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Glencore Eyes Australian Pension Funds

6 Aug

Summary

Glencore Plc plans a secondary listing in Australia.
The move is expected as soon as October.
The company aims to access Australia's vast pension system.

Glencore Plc is preparing to establish a secondary listing on the Australian stock exchange. This significant development is anticipated to occur by October, with the mining conglomerate aiming to leverage Australia's rapidly expanding pension system, valued at A$4.4 trillion.

Chief Executive Gary Nagle officially announced the company's intention on Wednesday during Glencore's earnings conference call. This strategic decision underscores Glencore's focus on accessing new avenues of investment and broadening its financial reach within the Australian market.

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