Glencore is considering listing its shares on the ASX, as it looks to improve Australian investor understanding and boost its valuation after merger talks with Rio Tinto collapsed, the Australian Financial Review reported.
A secondary ASX listing could attract more investors and “give investors another option other than Rio and BHP,” the report quoted CEO Gary Nagle saying on Monday.
Glencore last August decided against shifting its primary listing from London to the US, opting to stay in the UK after assessing the “material friction” costs involved.
The miner, which already has a secondary listing in Johannesburg, delisted from Hong Kong in 2018.
Glencore did not immediately respond to Reuters‘ request for comment.
(By Nithyashree R B; Editing by Shreya Biswas)
