Anglo American may list £7bn platinum division on the UK stock market
Anglo American could list its £7billion platinum division on the UK stock market as it presses ahead with a shake-up after seeing off a £39billion takeover offer from rival BHP.
The secondary listing for Amplats could follow a similar process to the spin-off of its South African coal business Thungela Resources in 2022, chief executive Duncan Wanblad said.
Amplats’ primary listing would remain in Johannesburg so it would not join the FTSE 100 despite being big enough to do so.
But it would still be a boost for the London market as it fights back following an exodus of firms to foreign stock exchanges.
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And it comes after insiders said Anglo’s diamond business De Beers, which is also being jettisoned by the company, may go public in London at a valuation of £4billion or more.
Wanblad’s comments came a day after BHP abandoned its attempt to buy Anglo.
As part of its defence against the takeover, Anglo had laid out its plan to slim down by shedding the platinum business and De Beers as well as its steel-making, coal and nickel assets.
It has also said it would slow down work at Woodsmith, the fertiliser mine it is developing in North Yorkshire.
Wanblad said last night: ‘We are now starting the formal processes for the divestment or the demergers of these businesses.’
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