What’s Wrong with Aritzia’s IPO?

By Anita Anand and Tegan Valentine Late on September 26, 2016, popular Canadian women’s fashion retailer Aritzia filed the final prospectus for its IPO. The retailer’s C$400 million transaction is generating buzz as the year’s largest Canadian IPO. But it also creates a dual class share structure, which has given rise to a broader debate about …

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What’s Wrong With Dual Class Shares?

by Anita Anand Many large firms – Google, Alibaba and Fitbit to name a few — have dual class or multiple voting share structures (MVS) in which the firm issues two or more classes of shares, one to the public and the other to insiders (typically founders, promoters, management, private investors or board members). The shares that …

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