Deals
FTSE 100 to Lose Second-Biggest Name as BHP Goes Home
- Biggest miner plans to change to primary listing in Australia
- Dual listing started in 2001 following Billiton merger
The central business district of Sydney, Australia.
Photographer: Brendon Thorne/BloombergThis article is for subscribers only.
The U.K.’s blue-chip FTSE 100 Index will lose its second-biggest stock by market value and the world’s largest mining company, after BHP Group announced plans to simplify its listing structure.
BHP will move to a primary listing in Australia after collapsing a dual arrangement that dates back to the company’s creation 20 years ago when Australia’s BHP Ltd. merged with rival Billiton. The change, one of several announced Tuesday that also included a plan to exit the oil and gas business, means BHP can be more nimble in pursuing deals, Chief Executive Officer Mike Henry told reporters.