Skip to content
Subscriber Only
Opinion
Alex Webb

Founders Love Listing in Amsterdam. Maybe a Little Too Much.

Altice's billionaire founder runs the risk of pushing his luck with the exchange’s dual-class share system.

Calling all founders.

Calling all founders.

Photographer: Paulo Amorim/NurPhoto

Founders who want to list their company in Europe while retaining control usually have a shortlist of one bourse: Amsterdam.

The Dutch capital’s stock exchange promises the flexibility of London with an added perk: It allows dual classes of stock in its benchmark indexes, meaning the biggest shareholders can keep control of the voting shares even as their financial interest is diluted. It’s a practice that’s helped attract Fiat Chrysler Automobiles NV, tech giant Prosus NV, drinks maker Davide Campari-Milano NV and, significantly, Altice Europe NV, which owns French carrier SFR.