新加坡双层股权结构立法改革及其对中国的启示

Legislative Reform on Dual-class Share Structure of Singapore and Its Suggestions to China

为适应新经济发展的需要,保持本地资本市场的国际竞争力,新加坡开展了有关双层股权结构的立法改革,其目的是争取更多的新经济公司到该国上市。2019年,中国科创板上市规则正式允许双层股权结构公司上市,相关法律规则仍在不断完善中,新加坡双层股权结构立法改革可以为中国提供重要的启示与借鉴。

In order to meet the needs of the development of new economy, and maintain the international competitiveness of the local capital market, Singapore has carried out the legislative reform on dual-class share structure in recent years, with the purpose of attracting more new economy companies to list in the country. In 2019, the Science and Technology Innovation Board of Shanghai Stock Exchange has issued a new listing rule, which allows listed company to adopt dual-class share structure. However, relevant rules still need to be improved. The legislative reform on dual-class share structure of Singapore could provide important enlightenments and references for China.