(Bloomberg)– An ask for Rio Tinto Group to desert its key London listing does not make financial feeling, Chief Executive Jakob Stausholm claimed after a protestor investor advised the miner to transfer to Australia.
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UK bush fund Palliser Capital, which holds around $250 countless shares, contacted Rio’s board on Wednesday, suggesting its twin noted framework had actually been an “unmitigated failure,” causing roughly $50 billion in worth devastation. It likewise claimed Rio’s initiatives to go after large M&A had actually been interfered with and required an independent testimonial to think about noting marriage.
“We have just not got anything that tells us that the structure we have is not the best structure,” Stausholm claimed, in action throughout a capitalist discussion in London onWednesday “There is a lot of value preserved in that structure.”
The globe’s second-largest miner by market price is noted on both the London Stock Exchange and theAustralian Securities Exchange Ever considering that competing BHP Group chose to collapse its twin listing in 2021, Rio has actually encountered stress from some lobbyist capitalists to do the same.
–With help from Katharine Gemmell.
(Corrects heading and 4th paragraph to make clear listing standing)
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