Glencore Mulls Leaving London Stock Exchange
Glencore, a FTSE 100 mining giant, is considering relocating its primary listing from London to potentially New York to secure a higher valuation.
This move would deal a significant blow to London's stock market, which has faced an exodus of companies due to lower valuations and limited trading volume.
Glencore, valued at £40 billion, is one of London's top 20 most valuable listed entities and would be the largest to leave the exchange if it departs.
Chief executive Gary Nangle emphasized the need to optimize valuation and explore all relevant exchanges, including the New York Stock Exchange.
Glencore's decision is not influenced by US President Donald Trump's pro-fossil fuel policies, according to Nangle. The company's primary listing location remains under consideration.