Kuok, Khoon Ean 郭孔演
Scrap the public float rule
Investors in SCMP (0583) are in the deep freeze again, and other companies have indulged in artificial schemes to comply with the 25% public float rule. The rule should be scrapped, because as we explain, it has no real purpose, and because the only way to enforce it is to victimize minority shareholders by suspending their shares. The rule does not serve investor interests. (11-Jun-2013)
Investors in SCMP (0583) are in the deep freeze again, and other companies have indulged in artificial schemes to comply with the 25% public float rule. The rule should be scrapped, because as we explain, it has no real purpose, and because the only way to enforce it is to victimize minority shareholders by suspending their shares. The rule does not serve investor interests. (11-Jun-2013)
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