Australia is considering the introduction of dual-class share trading in a bid to boost its struggling listing market. However, this move has faced opposition from investors who fear that it would grant excessive power to certain shareholders, such as founders. The Australian Securities Exchange is contemplating allowing dual-class listings to align itself with major international peers like those in New York and London. Dual-class structures involve shares with differing voting rights, which companies may opt for to reward their founders or executives, but critics argue that this could undermine the rights of other shareholders. While the ASX had previously put aside the idea of dual-class shares in 2007 due to similar concerns, a recent decline in new listings and regulatory pressure have prompted a reconsideration of the proposal. Fund managers remain skeptical of dual-class shares, suggesting that they would need to be discounted during an IPO to appeal to local investors. This structure is criticized for potentially giving founders an outsized influence based on their economic interests, presenting governance challenges. Fund managers are cautious, especially in light of recent issues involving founders in companies like WiseTech and Mineral Resources. ASX aims to reinvigorate the market by considering input from potential listing candidates who view dual-class shares as an important factor when deciding where to list. Beaton, an executive at ASX, emphasized the importance of gathering feedback on measures that could enhance the competitiveness of the market.