March 9 (Reuters) - Glencore is considering listing its shares on the ASX, as it looks for ways to improve Australian investor understanding and boost its valuation after merger talks with Rio Tinto
Glencore open to considering Australia listing if beneficial, AFR reports
Glencore's Potential Australia Listing and Recent Corporate Developments
Background and Current Considerations
March 9 (Reuters) - Glencore is open to considering listing in Australia, if it proves beneficial to the company, the Australian Financial Review reported on Monday, following the collapse of merger talks with Rio Tinto.
Potential Benefits of an ASX Listing
A secondary ASX listing could attract more investors and "give investors another option other than Rio and BHP," the report quoted CEO Gary Nagle saying.
Shareholder Engagement and Advisory Process
The company would need to engage with shareholders and seek advice before proceeding with any listing, Nagle told the newspaper.
Official Response from Glencore
Glencore declined to provide further comment on the report.
Context: Recent Merger Talks and Listing Decisions
Collapse of Merger Talks with Rio Tinto
Rio walked away from takeover talks with Glencore in February, ending months of negotiations on a tie‑up that would have created the world’s largest mining group.
Valuation Disagreements
Glencore concluded that the proposed terms undervalued its copper business and future growth pipeline, while Rio said the deal would not deliver sufficient value to its shareholders.
Previous Listing Decisions
Glencore last August decided against shifting its primary listing from London to the U.S., opting to stay in the UK after assessing the "material friction" costs involved.
The miner, which already has a secondary listing in Johannesburg, delisted from Hong Kong in 2018.
(Reporting by Nithyashree R B in Bengaluru; Additional reporting by Rishab Shaju, Simone Lobo, and Raechel Thankam Job; Editing by Shreya Biswas and Mark Potter)
