Glencore Investor Urges Move of Primary Listing to Sydney From London, FT Reports
-- Glencore has been urged by activist investor Tribeca Investment Partners to shift its primary listing to Sydney from London, citing low appetite for mining investments on the London Stock Exchange, the Financial Times reports.
--The Australian hedge fund also called for the Swiss mining giant to scrap plans to spin off its coal unit, once the acquisition of Elk Valley Resources completes later this year, according to FT.
--In a letter to Glencore, the activist investor recommended increasing dividends by cancelling share buybacks and divesting a minority stake in its profitable trading division through an initial public offering, FT reports.
Full story: https://tinyurl.com/4jtpcm3d
Write to Christian Moess Laursen at christian.moess@wsj.com
(END) Dow Jones Newswires
March 14, 2024 08:29 ET (12:29 GMT)
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