With F1 being in the news lately, I thought I would post the case study on it, which was in volume 3 of the Corporate Governance Case Studies published by CPA Australia in 2014. The case was written at the time when there was talk about F1 listing on SGX. That was shortly after talk about Manchester United doing so. Both wanted to list here with dual class shares. I publicly objected to them and to dual class shares generally. The case also discusses certain bribery allegations.
Neither F1 nor MU came of course but I believe they were important triggers for SGX’s decision to allow companies with dual class shares to list. Of course, other than two secondary listings, no companies have listed with such shares here. We built it – they did not come.
On a related note, I realise how much people like the case study series, not just here, but in other countries I go to. I am hoping to relaunch a new series next year, probably called Corporate Governance and Sustainability Case Studies, but it would be with a new partner if I decide to go with one.
