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Today Glencore Xstrata (GLN), one of the world’s largest global diversified natural resources company, listed on the JSE’s Main Board. With a global market capitalisation of R732billion, the company is the third largest listed on the exchange.
Glencore’s diversified operations comprise of over 150 mining and metallurgical sites, offshore oil production assets, farms and agricultural facilities. The combination of a leading integrated producer and marketer of commodities with a leading portfolio of industrial assets enables the company to capture value at every stage of the supply chain.
Glencore has ferrochrome, PGM and coal mines in South Africa inter alia and is the largest exporter of coal in the country. Glencore Xstrata has a primary listing on the London Stock Exchange (LSE) and a secondary quote on the Hong Kong Stock Exchange (HKEx).
“We welcome Glencore Xstrata to the JSE’s Main Board. It’s a huge accolade for the exchange that a multinational company of Glencore Xstrata’s size and stature would select the JSE for its secondary listing. We are confident that this listing will enhance Glencore Xstrata’s growth prospects and profile on the continent. The listing reflects well on South African financial markets and sends a positive message to potential issuers both local and international.” says Nicky Newton-King, CEO of the JSE.
Glencore Xstrata is the tenth company and the fourth resources group to list on the exchange this year. Newton-King says the listing will be likely to attract investors to the JSE and could increase trading activity on the exchange. “For local investors this listing also provides exposure to another globally diversified company.”
For further information about the listing visit: www.glencorexstrata.com
