Glencore Weighs Becoming Next Commodity Giant to Quit London
- CEO Nagle says company needs to get optimal stock valuation
- US market more supportive of firms involved in fossil fuels
Glencore Plc said it’s studying whether to move its primary listing away from London, potentially becoming the latest major miner to leave what has for decades been the industry’s global hub.
“Ultimately, what we want to ensure is that our securities are traded on the right exchange where we can get the right and optimal valuation for our stock,” Glencore Chief Executive Officer Gary Nagle said on a call with reporters. “There have been questions raised previously around whether London is the right exchange.”