HomeBase MetalsSouth32 to begin share trading on May 18, 2015

South32 to begin share trading on May 18, 2015

South Africa/InternationalBHP Billiton’s South32 spin-off has announced in a pre-listing statement on Monday that it would commence trading shares on a normal settlement basis on the JSE, on a deferred settlement basis on the ASX and on a when-issued basis on the LSE on May, 18 2015.

South32 has also applied for admission of its ordinary shares to trading on the ASX and LSE and will establish an over-the-counter ADS program in the US.

South32 ADSs will commence trading over-the-counter on a when- issued basis on that same date.

South32 reported that normal trading is expected to commence on the ASX on June, 2 2015 and LSE on May 26, 2015.

South32 background

The BHP Billiton board announced its intention to separate the BHP Billiton group into two businesses on 19 August 2014. This led to the formation of an independent listed company, South32, with a portfolio of assets producing alumina, aluminium, coal, manganese, nickel, silver, lead and zinc.

South32’s portfolio will comprise of the South32 Businesses, which are:

  • Worsley Alumina
  • South Africa Aluminium
  • Mozal Aluminium
  • Brazil Aluminium
  • South Africa Energy Coal
  • Illawarra Metallurgical Coal
  • Australia Manganese
  • South Africa Manganese
  • Cerro Matoso
  • Cannington

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Chantelle Kotze
Chantelle Kotze is a Johannesburg-based media professional. She is a contributor at Mining Review Africa (Clarion Events - Africa) and has created content for the media brand over the past 6 years.