BHP Billiton: NewCo to also get UK listing

BHP BILLITON planned to list its new spin-off in London after British shareholders complained about the mining giant’s decision to list only in Australia and South Africa, the mining company said yesterday. The firm, which is listed in Sydney and London, outlined a proposal in August to create a new independent company by demerging non-core assets, including some of its aluminium and manganese operations. Under the plan, the new entity, provisionally named NewCo, was to be listed in Australia with a secondary listing in Johannesburg. But the decision angered shareholders in London as British investment rules meant some of them would not be able to hold stock in the new firm. – Sapa-AFP