Why Snap’s no-vote shares IPO won’t catch on

Author: Lizzie Meager | Published: 23 Feb 2017

Tech firm Snap's decision to go public with only no-vote shares on offer is a bold move that's unlikely to become a trend, despite the fears of some investors. The decision taken by the parent company of instant messaging app Snapchat has incensed investors, so much so that a number of US pension funds are in the process of writing Snap's executives a strongly-worded letter.

Snap, which is hoping for a $3 billion capital raise in the deal, will be the first US company to go public with only no-vote...