Sumary of Truecaller plans to list Class B shares on Nasdaq Stockholm:
- Article content STOCKHOLM — Swedish mobile phone directory and caller identification service Truecaller on Wednesday said it planned to list its Class B shares on Nasdaq Stockholm.
- Nami Zarringhalam and Alan Mamedi, who co-founded Truecaller in 2009, intends to control a majority of the company’s voting power through ownership of Class A shares.
- Article content Many tech founders use dual-class shares to retain control of their companies after listing on public markets to operate on their long-term vision and safeguard from hostile takeovers.
- com/article/us-usa-investors-voting-idUSKCN1MX37C that limited voting rights can lead to insular boards and poor corporate oversight.
- Truecaller counts Sequoia, Atomico, OpenOcean and Kleiner Perkins among its investors, and more than 10% of the company was owned by its employees.