Analysts at Deutsche Bank predicted on Tuesday that global commodity giant Glencore Plc (Glencore Plc) may later consider moving its main listing location from London to New York.
The Zhitong Finance App learned that analysts at Deutsche Bank predicted on Tuesday that global commodity giant Glencore Plc (Glencore Plc) may later consider moving its main listing location from London to New York, and this may become the London Stock Exchange's main listing site transfer event that has attracted the most attention of the global media so far.
Glencore's previous plan to split its highly profitable coal business and list it separately in New York lacked shareholder support, so analysts at Deutsche Bank said Glencore's main listing location may become the focus of market attention.
According to media reports, mutual fund statistics show that the US stock market has provided more support measures for fossil fuel-related companies. Many investment institutions from Europe have excluded this industry from their portfolios, yet the trading price of copper ore and other metal stocks listed on the US stock market is far higher than the price of similar stocks in the British stock market.
Analysts at Deutsche Bank wrote in a report that about 48% of mutual funds in Europe do not choose to invest in high-carbon industries such as coal, compared to less than 1% in the US market.
According to information, last month, the rights protection investment agency Tribeca Investment Partners called on Glencore to move its main listing location from London to Sydney and abandon plans to divest the coal business.
According to information, in recent years, more and more large listed companies have moved their main listing locations from London to New York. The main logic behind this is to seek larger market liquidity, higher shareholders' demand for corporate valuations, and a broader global investor base.
For example, CRH PLC, a world-renowned construction materials manufacturing giant headquartered in Dublin, the capital of Ireland, successfully moved its main listing from the London Stock Exchange to the New York Stock Exchange in 2023. This decision reflects CRH's strategic intention to seek more commercial, operational, and acquisition opportunities in the US, a market where its business accounts for about 75%, and is in line with shareholders' expectations to increase the company's valuation. It also reflects its desire to take full advantage of the strong growth opportunities in the US construction market.