Glencore set for ASX listing in October

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GLENCORE expects to start trading on the Australian Securities Exchange (ASX) on October 14 after satisfying the exchange’s substantive listing requirements.

The miner and commodity trader said the ASX had approved it for admission as a Foreign Exempt Listing.

Glencore’s Australian securities, known as CHESS Depositary Interests (CDIs), will each represent one ordinary Glencore share.

Glencore currently has its primary listing on the London Stock Exchange, where it trades as GLEN, and a secondary listing on the Johannesburg Stock Exchange under the code GLN.

The company said in August that it planned to add an Australian secondary listing to broaden its investor base and improve trading liquidity.

Existing shareholders in the UK and South Africa can convert ordinary shares into Australian CDIs, although conversions from South Africa will remain subject to exchange-control regulations.

Glencore has appointed Computershare Investor Services to manage its Australian CDI register.

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