BHP: London’s lost bauble

Anglo-Australian mining giant is shifting its primary stock-listing to Sydney 

BHP Mt Arthur coal mine in Australia
(Image credit: Ian Waldie/Getty Images)

Bad news for the FTSE 100, said Neil Hume in the Financial Times. The UK blue-chip index “is set to lose its biggest company”. The £137bn Anglo-Australian mining giant BHP is ditching its “dual-corporate structure”, which currently sees it listed as two separate companies on the London and Sydney stock exchanges, and shifting its “primary stock-listing to Australia”.

The move marks “the most radical overhaul” to BHP’s business since it was formed in a merger two decades ago, said August Graham on PA Media. Some investors, notably the activist New York-based hedge fund Elliott Advisors, have been pushing for this “for years”, as a means of unlocking billions in value.

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