“Weighted Voting Rights”可译为“同股不同权”或“不同投票权”, 是为了维护公司创办人而建立的股权架构,指的是同样的股票份额,但拥有不一样的表决权,又称双重股权结构或者AB股结构。Stocks with weighted voting rights (WVR) are usually known as dual-class stocks. ... While the founders and management usually own one class of shares with multiple votes per share, another class of shares with one vote per share are issued to general investors. (From HKEX)
不同于“同股同权”公司的一股一票,“同股不同权”的公司股票分高、低投票权两种股票,高投票权的股票每股有2票至10票的投票权,称为B类股,一股一票甚至没有投票权的称为A类股,高投票权股一般由管理层持有。
“同股不同权”的股权架构常见于互联网科技企业、初创公司。原因是创办人往往财力有限,要透过多轮融资引入财务投资者,才能令公司壮大,所以创办人摊占的财务股权往往会大幅摊薄。“同股不同权”的股权架构正好可以让创办人在持股较少情况下,继续控制公司。
以下为相关双语示例:
Review and monitor all risks related to the Company's weighted voting rights structure, including connected transactions between the Company and/or a subsidiary of the Company on the one hand, and any holder of Class A Ordinary Shares on the other, and make a recommendation to the Board on any such transaction.
检讨及监察与本公司不同投票权架构有关的所有风险,包括本公司及/或本公司附属公司(一方)与任何A类普通股持有人(另一方)之间的关连交易,并就任何该等交易向董事会提出建议。