BHP confirms London listing for new company

BHP has confirmed market rumours and will list its newly demerged company on the London Stock Exchange after only eyeing the ASX and JSX for listing.

When the miner first announced the split of its assets, BHP CEO Andrew Mackenzie has only slated listing in Australia and South Africa, explaining at the time that an additional London listing would be too complex and expensive.

However concerns rose in the market that UK shareholders would not be mandated to hold the new spin-off, and would have to sell their listing at possibly reduced levels.

Now BHP have taken investor concern onboard and confirmed it will have a standard listing on the LSX for the new company created by the demerger, in addition to the ASX and JSX listings.

Mackenzie added: “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."

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