Palliser calls for ASX as primary listing for miner
Palliser Capital , a significant investor in Rio Tinto with almost £200 million in stakes, urged the miner once again to unify the dual-listed company structure on the London Stock Exchange and Australian Stock Exchange into a single Australian domiciled holding company.In May, Palliser already pushed for Rio to move its primary listing to Australia.
"Based on our extensive analysis, we believe that this readily actionable step would resolve the value destructive inefficiencies of the outdated DLC structure and present a path to US$28 billion upside in the near term for PLC shareholders and further upside for the combined group over the medium term," James Smith, chief investment officer at Palliser, wrote in the letter.
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