Alibaba is planning to rejig its management structure to ensure that its partners get to nominate the board and keep control over the firm after it goes public, the Hong Kong Economic Times reports. The Chinese e-commerce powerhouse is expected to go public by the end of this year in an IPO that could be worth more than $15bn. …
Let me guess. The board has 40 members ...
I think we need a new category for companies that want to access listed capital markets without that inconvenience of other part owners deciding who they want running the show. I propose "Pretend Public Offering", or PPO. Recent East European and Central Asian listings on LSE form the model.
I'm less sure of the acronym for large, already listed companies where entrenched but incompetent management feather their nests whilst taking all possible steps to avoid acting in shareholder's interests, whilst establishing defences against hostile takeovers. "CLHP" might do, as in Companies Like HP?
"Leave me alone, I know what I'm doing."
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