South African giant heading to London

Anglo American Platinum plans to list on the London Stock Exchange (LSE) later this year after splitting from its parent organisation.

Anglo American Platinum, which plans to rename Valterra Platinum, has applied to the Financial Conduct Authority in the United Kingdom for the admission of its entire issued share capital in the company on the LSE.

The group hopes for shares to be traded on the main market for listed securities of the London Stock Exchange.

Due to its demerger from Anglo American, the company believes that the admission will ensure that the large number of Anglo American’s existing shareholders will not be prevented from holding shares in the company following the demerger.

The company also believes that the listing in London, on top of its primary listing on the JSE, will benefit its geographically diverse shareholder base and assist in building the company’s capital markets profile.

This will also enhance the company’s share trading liquidity and support its global shareholder base.

The demerger’s effective date is also expected to be Saturday, 31 May 2025, assuming that the relevant shareholder approval is obtained at Anglo America’s general meeting later this month.

Anglo American confirmed that it will continue to hold about 19.9% shareholding in Anglo American Platinum following the demerger.

Anglo American will retain this shareholding for at least 90 days following the demerger, subject to exceptions customary of a transaction of this type. The shareholding position will then be managed over time to effect a full separation.

Anglo American Platinum will continue to be listed on the Main Board of the Johannesburg Stock Exchange under the ticker AMS, which will change to VAL following the proposed name change.

The company expects admission to the LSE to occur on 2 June 2025. Thereafter, its shares will trade on the LSE under the ticker symbol VALT.