Standard Listing in London for Proposed New Company
October 16, 2014
BHP Billiton today confirmed that it will pursue a Standard listing on the UK Listing Authority’s Official List and admission to trading on the London Stock Exchange for the new company it plans to create via demerger. This is in addition to the proposed primary listing on the Australian Securities Exchange and secondary inward listing on the Johannesburg Stock Exchange.
As previously announced, BHP Billiton plans to create an independent global metals and mining company based on a selection of its high-quality aluminium, coal, manganese, nickel and silver assets. Separating these businesses has the potential to unlock shareholder value by significantly simplifying the BHP Billiton Group and creating two portfolios of complementary assets.
BHP Billiton Chief Executive Officer, Andrew Mackenzie, said: “We are pleased to offer an additional listing in London in response to the interest investors have shown in the new company. We continue to work towards completion of the demerger in the first half of the 2015 calendar year, subject to receipt of the necessary approvals.”
A final Board decision on the demerger will only be made once the necessary Government, taxation, regulatory and other third party approvals are secured on satisfactory terms.