More foreign pension funds oppose Toyota 'Model AA' shares

Three foreign funds on Monday said they would oppose Toyota Motor Corp's proposal to issue a new class of shares, joining an influential California pension fund in objecting to a sale that critics say favors Japanese retail investors. Toyota aims to sell "Model AA" shares, named after its first passenger car, to attract long-term investors. Unlike common shares, they are unlisted and will be sold only in Japan, meaning foreign investors will have to buy them through intermediaries.

More foreign pension funds oppose Toyota 'Model AA' shares source: http://finance.yahoo.com/news/more-foreign-pension-funds-oppose-115802652.html