Aktiengattungen

The equity financing of publicly listed German stock corporations typically occurs through the issuance of common shares, known as ordinary shares. Only a few companies have created an additional class of shares. As the study shows, the forms of shares in the Anglo-American legal system are much more diverse. In particular, U.S. corporations often have complex equity structures, thus offering investors a wide range of different classes of shares. Therefore, the study examines whether selected classes of shares are suitable for introduction into German stock law. Finally, the German special resolution provisions for classes of shares are analyzed, and regulatory alternatives are presented.