Electronic components manufacturer Vishay Intertechnology ( VSH) said that it will seek shareholder consent to create a new Class C common stock. Each share of Class C would carry one-tenth of a vote.

The creation of new stock will help Vishay to raise additional capital or engage in a range of investment and strategic opportunities without diluting the voting power of its existing stockholders. The company added that it has no specific plans now to issue Class C common stock.

Each share of Class C stock would generally have terms identical to a share of Vishay's currently traded common stock which would be renamed Class A. That stock will continue to be traded on the New York Stock Exchange.

This story was created through a joint venture between TheStreet.com and IRIS.

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