Who’d buy shares without voting rights?

Who’d want to buy shares which don’t carry voting rights?

This is one of the questions being asked in the wake of Fonterra shareholders’ vote to approve Trading Among Farmers.

Given the number of people who own shares now who know little if anything about the companies, don’t read prospectuses or annual reports, don’t attend AGMs and either don’t vote or just do as the board advises, I don’t think the lack of voting rights will be a stumbling block.