[1] Many countries such as Germany, Russia, the United Kingdom[citation needed] and other commonwealth realms have laws or policies against multiple/non-voting stock.
Non-voting stock may also thwart hostile takeover attempts.
There are consequences to not releasing voting rights to common shareholders; these include fewer supplicants for a friendly takeover, displeased shareholders as a result of the corporation's limited growth potential, and difficulty finding bidders for additional non-voting shares in the market.
However, this is debatable since all publicly traded companies have their common shares in the open market for anyone to purchase.
Examples include Tencent buying a non-voting 12% stake in Snap Inc. in 2017.