Aktieklasser

Aktieklasser, or share classes in English, refer to the different categories of shares a company can issue. While all shares represent partial ownership in a corporation, different classes can confer distinct rights and privileges to their holders. The primary reason for creating multiple share classes is to allow a company's founders or major investors to retain greater control over corporate decisions.

The most common distinction between share classes involves voting rights. A typical structure includes Class A shares, which often carry one vote per share, and Class B shares, which may carry multiple votes per share or, conversely, no voting rights at all. This enables key stakeholders to raise capital by selling shares to the public (often with reduced voting power) without diluting their own control. For example, a founder might hold Class B super-voting shares, while public investors hold Class A shares with standard or no voting rights.

Beyond voting, share classes can also differ in dividend entitlements. Some classes may have a priority right to dividends, meaning they are paid before other classes. Other possible variations include differing liquidity preferences in the event of a company's sale or liquidation.

The specific rights attached to each aktieklass are defined in the company's articles of association. This information must be publicly disclosed, allowing investors to understand the power structure and potential risks before purchasing shares. The use of multiple aktieklasser is a common feature in many Swedish and international companies, particularly those with a strong founder-led vision.