https://newsletter.mw.creamermedia.com
Iron Ore
Iron Ore
iron-ore

Palliser urges Rio Tinto to pursue unification of dual-listed structure

10th March 2025

By: Reuters

  

Font size: - +

London-based hedge fund Palliser Capital released on Monday a letter addressed to the chair of global iron-ore miner Rio Tinto, urging further steps toward unifying its dual-listed structure following an appraisal report.

The letter highlighted the findings of an appraisal report by Grant Thornton Australia, which identified a share price disparity between the UK and Australian listings.

The report noted that this differential limits Rio Tinto's ability to execute major stock-based mergers and acquisitions and complicates equity capital raising.

Rio Tinto currently operates with a dual-listed structure, maintaining separate shareholder bases in the UK (Public Limited Company) and Australia (Limited). As a result, the company is required to hold two annual general meetings: one in London on April 3 and another in Perth on May 1.

The upcoming votes at Rio Tinto's annual general meetings will be crucial in determining the future direction of the company's listing structure.

At these meetings, shareholders will vote on a resolution proposed by Palliser Capital and more than 100 shareholders, urging a review of the current structure, which the fund has described as inefficient and "value destructive."

Since adopting the dual-listed structure in 1995, Rio Tinto has not used shares as scrip for any of its approximately $55-billion in acquisitions, according to the report. It also suggested that unification could enhance dividend franking capabilities within the company's payout targets.

The company's current listing consists of approximately 371.2-million shares on the Australia Stock Exchange and 1.25-billion shares on the London Stock Exchange.

This move follows similar actions by larger rival BHP Group BHP.AX, which, after facing pressure from activist investors, eliminated its dual-listing structure in 2022 and now primarily lists in Australia.

Edited by Reuters

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Showroom

Rentech
Rentech

Rentech provides renewable energy products and services to the local and selected African markets. Supplying inverters, lithium and lead-acid...

VISIT SHOWROOM 
Advanced Fire Suppression Technologies
Advanced Fire Suppression Technologies

Established on 1 March, 2000, by Barries Barnard, Advanced Fire Suppression Technologies (AFST) and the Advanced Group stands as Sub-Saharan...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

FAM Minerals & Mining South Africa team
FAM Minerals & Mining launches in South Africa
30th January 2026 By: Darren Parker
Transnet, RBCT, Exxaro manganese make headlines
Transnet, RBCT, Exxaro manganese make headlines
30th January 2026
Magazine cover image
Magazine round up | 30 January 2026
30th January 2026
Exxaro CEO Ben Magara.
Exxaro’s manganese entry points advance
29th January 2026 By: Martin Creamer

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.186 0.28s - 139pq - 2rq
Subscribe Now