Miner AngloGold Ashanti has announced plans to transfer its primary listing to New York and redomicile in the UK after winding down its South African operations to focus on other markets.
Under a plan set out on Friday, the company, which has its primary listing in Johannesburg, will keep a secondary listing there and have another in Ghana.
AngloGold sold its last South African mine in 2020 to focus on operations elsewhere in the continent, as well as in Australia and the Americas. That move created speculation that the company could shift its listing to London, where shares in most of the world’s largest mining groups are traded.
The company on Friday said that a US primary listing would boost access to “the world’s deepest pools of capital”, adding that an existing secondary listing on Wall Street already generated about two-thirds of daily liquidity in its shares.
The company expects the proposed changes to complete during the third quarter of this year, it said.