Pankaj Balani | Source | CEO & Founder at Delta Exchange

Equity shares with differential voting rights are not uncommon. Broadly speaking, a company can issue three types of stocks from the perspective of voting rights – (a) normal voting rights stocks (1 vote/ share), (b) no voting rights stocks (0 vote/ share) and (c) super voting rights stocks (e.g 10 votes/ share). For a given company, stocks with differential voting rights tend to trade at different prices. Stocks with superior voting rights tend to be at a premium to stocks with inferior voting rights. The presence of voting rights related premium/discount implies that the market ascribes economic value to voting rights.