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Uber's most recent fund-raising effort — focused on the leveraged loan market — aims to avoid diluting the current base of shareholders.
Mr. Aron said he has discussed with these big investors the possibility of selling some shares to bring in a broader base of shareholders.
"I'm a bird at the end of a branch and all my friends are gone," he wrote to his diminishing base of shareholders.
Reformers have been right to think creatively because the rise of "ownerless corporations" – companies in which the base of shareholders is so fragmented that the supposed owners behave as passive onlookers – is one reason why almost every governance reform of the past 30 years has disappointed.
We've now built an extremely broad base of shareholders at every level of the company.
We the people have decided that big companies are more responsible when they report to a broad base of shareholders, that they are more accountable when we can all scrutinize their financials and that our economy works better when major companies act as public entities.
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Such an approach could give it distance from scandal-plagued investment banking deals of the dot-com era as well as create a huge base of small shareholders.
The company is also listed on the New York stock exchange, and Burman revealed that its growing base of US shareholders may prompt it to leave the LSE.
Again, it seems the seller will have to rely on retail interest to get the deal away".We want a large base of small shareholders," says Fulvio Conti, the company's chairman and Enel's chief financial officer.
Google wanted to bypass this process for two reasons: so it could open its flotation from the start to a broad base of individual shareholders; and to avoid the "pop" (sudden price rise once trading starts) that often comes with bank-priced IPOs.
These people and their institutions surely do not think of themselves as provincial hayseeds bent on maintaining a dismal history of discrimination, both racial and sexual; these are major public companies, leading athletic celebrities and their professional organization — each of them enjoying national and international audiences and markets, huge fan bases and millions of shareholders.
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Since I tried Ludwig back in 2017, I have been constantly using it in both editing and translation. Ever since, I suggest it to my translators at ProSciEditing.

Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com