As dual listings fall out of favour, Rio Tinto set to hold the line

StreetInsider2021-11-19

Global miner Rio Tinto Ltd has no plans to follow in the footsteps of peers BHP and Shell to collapse its dual listing, people familiar with its thinking say, seeing it as a needless expense that ...

网页链接

免责声明：本文观点仅代表作者个人观点，不构成本平台的投资建议，本平台不对文章信息准确性、完整性和及时性做出任何保证，亦不对因使用或信赖文章信息引发的任何损失承担责任。

精彩评论

AxlChoo
2021-11-19
AxlChoo
Good
- Footixx:
  👍
KidGoat
2021-11-19
KidGoat
Pls like and comment thanks
- Wandakdash:
  Naise
- Sim1:
  Done
- KidGoat:
  wow
Rara08
2021-11-19
Rara08
Ok
- Lsjlsjlsj:
  liked
14561b30
2021-11-19
14561b30
K
- Rara08:
  ok
Konnyaku
2021-11-19
Konnyaku
Pls like
- 14561b30:
  K

发表看法

{"i18n":{"language":"zh_CN"},"isChannel":false,"data":{"share":"https://www.laohu8.com/m/news/2184201811?lang=zh_CN&edition=full","thumbnail":"","is_english":true,"pubTime":"2021-11-19 19:14","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2184201811","market":"us","top_or_hot":-1,"title":"As dual listings fall out of favour, Rio Tinto set to hold the line","media":"StreetInsider","content":"<div>\n<p>Global miner Rio Tinto Ltd has no plans to follow in the footsteps of peers BHP and Shell to collapse its dual listing, people familiar with its thinking say, seeing it as a needless expense that ...</p>\n\n<a href=\"https://www.streetinsider.com/dr/news.php?id=19244184\">网页链接</a>\n\n</div>\n","source":"highlight_streetinsider","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>As dual listings fall out of favour, Rio Tinto set to hold the line</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nAs dual listings fall out of favour, Rio Tinto set to hold the line\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-11-19 19:14 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.streetinsider.com/dr/news.php?id=19244184><strong>StreetInsider</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Global miner Rio Tinto Ltd has no plans to follow in the footsteps of peers BHP and Shell to collapse its dual listing, people familiar with its thinking say, seeing it as a needless expense that ...</p>\n\n<a href=\"https://www.streetinsider.com/dr/news.php?id=19244184\">网页链接</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"RIO","symbol_name":"力拓","start_time":0,"source_url":"https://www.streetinsider.com/dr/news.php?id=19244184","article_id":"2184201811","we_media_id":null,"thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2184201811","pubTimestamp":1637320461,"sourceInfo":{"source_id":"highlight_streetinsider","name":"StreetInsider"},"weMediaInfo":null,"summary":"Global miner Rio Tinto Ltd has no plans to follow in the footsteps of peers BHP and Shell to collaps","collect":0,"end_time":0,"defaultTopTitle":"streetinsider.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"RIO":"力拓"},"translate_title":"由于双重上市失宠，力拓将坚持到底","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"RIO":0.9},"content_text":"Global miner Rio Tinto Ltd has no plans to follow in the footsteps of peers BHP and Shell to collapse its dual listing, people familiar with its thinking say, seeing it as a needless expense that would erode advantages for shareholders in London and Sydney.\nExecutives at Rio routinely review the dual structure and have for years resisted any change, a direction unlikely to shift under the helm of new chief executive Jakob Stausholm, two sources familiar with the company told Reuters.\nJust last month, Stausholm defended the dual listing as an effective one-management, one-board structure set up 26 years ago to satisfy both the UK and Australian governments that he thought management should \"honour.\"\nRoyal Dutch Shell's decision this week to scrap its dual structure and move its head office to London has renewed focus on dual listings, which are often criticised as both complex and expensive.\nIt followed a move by the world's biggest miner BHP Group in August to collapse its 20-year-old structure, quitting its London listing in favour of Sydney.\nAny similar move by London-headquartered Rio would likely see it shift its primary listing to the UK, where it has most of its shareholders, although the majority of its profits come from Australia.\nAlthough it is not uncommon for companies to quote their shares on multiple exchanges, a dual-listing is incorporated under two different legal regimes operating as a single business on two bourses, often designed to persuade governments to sign off on cross-border mergers.\nThe structure can bring some tax advantages but means increased costs and can make stock-based acquisitions and corporate restructurings more difficult, say analysts.\nDespite pressure on big companies to simplify their structures, Australian investors would likely take a dim view of any move by Rio to unwind the dual listing.\n\"Any move would likely see major pushback from the Australian government and Australian shareholders,\" said Peter O'Connor of Shaw and Partners in Sydney.\nThe government would be unhappy that control of raw materials was moving offshore, particularly as the Western Australian iron ore business accounted for more than 80% of Rio's profits over the past two years.\n\"We are of the view that unless you can make a really strong case for why it needs to be done, it's better left alone,\" said Brenton Saunders, financial analyst at Pendal Group in Sydney.\nRio would need to demonstrate value to both sets of shareholders to cut the Australian listing, and any jurisdiction disadvantaged would have to be remunerated, he added.\nAustralian shares tend to trade at a premium to London-listed stock due to tax rebates on dividends, and a collapsed structure would lead to a transfer of value from Australian shareholders to London shareholders, Saunders said.\n\"That has pretty much happened already for BHP and it will likely happen with Rio if they were to announce a dual-listed company unification,\" he said.\nStill, as corporates come under pressure to be simpler, more integrated and innovative, O'Connor said pressure for a change in structure from investors, especially those in London, is likely to rise.\n\"The probability of Rio collapsing its dual share structure and moving it to a London listing is moving towards 100, having been at around 50 on the scale of probability for years,\" he said.","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[{"id":876262240,"gmtCreate":1637320876814,"gmtModify":1637320876941,"author":{"id":"3576321881416814","authorId":"3576321881416814","name":"AxlChoo","avatar":"https://static.tigerbbs.com/07cda5bcab8b688f3844cf237bffa55f","vip":1,"crmLevel":2,"crmLevelSwitch":0},"htmlText":"Good","listText":"Good","text":"Good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":8,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/876262240","repostId":2184201811,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":6643214,"gmtCreate":1637321820063,"gmtModify":1637321820091,"authorId":3572228950547010,"author":{"id":3572228950547010,"authorId":3572228950547010,"name":"Footixx","avatar":"https://static.tigerbbs.com/286a694c51da40f13325f2f7cd6b8851","vip":1,"crmLevel":6,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":876262240,"type":1,"supId":0,"prevId":0,"content":"👍","text":"👍","html":"👍"}],"langContent":"CN"},{"id":876266035,"gmtCreate":1637320631537,"gmtModify":1637320634372,"author":{"id":"3586744862262534","authorId":"3586744862262534","name":"KidGoat","avatar":"https://static.tigerbbs.com/95862e3968cf51ab3a117700e7f58024","vip":1,"crmLevel":1,"crmLevelSwitch":0},"htmlText":"Pls like and comment thanks","listText":"Pls like and comment thanks","text":"Pls like and comment thanks","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":11,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/876266035","repostId":2184201811,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":6655934,"gmtCreate":1637405240795,"gmtModify":1637405240920,"authorId":3558569595001242,"author":{"id":3558569595001242,"authorId":3558569595001242,"name":"Wandakdash","avatar":"https://static.tigerbbs.com/211ec3a66712c46a80ca45e20dbbd8a4","vip":1,"crmLevel":4,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":876266035,"type":1,"supId":0,"prevId":0,"content":"Naise ","text":"Naise ","html":"Naise "},{"id":6643035,"gmtCreate":1637320791382,"gmtModify":1637320791474,"authorId":3573709257975993,"author":{"id":3573709257975993,"authorId":3573709257975993,"name":"Sim1","avatar":"https://static.tigerbbs.com/45f90a5e23b6dc713a314a1c2365d6b6","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":876266035,"type":1,"supId":0,"prevId":0,"content":"Done","text":"Done","html":"Done"},{"id":6643022,"gmtCreate":1637320639948,"gmtModify":1637320639977,"authorId":3586744862262534,"author":{"id":3586744862262534,"authorId":3586744862262534,"name":"KidGoat","avatar":"https://static.tigerbbs.com/95862e3968cf51ab3a117700e7f58024","vip":1,"crmLevel":1,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":876266035,"type":1,"supId":0,"prevId":0,"content":"wow","text":"wow","html":"wow"}],"langContent":"CN"},{"id":876268893,"gmtCreate":1637320590440,"gmtModify":1637320591094,"author":{"id":"3579125484417577","authorId":"3579125484417577","name":"Rara08","avatar":"https://static.tigerbbs.com/ee915a47f3c554f599dce721c2397b4d","vip":1,"crmLevel":1,"crmLevelSwitch":0},"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/876268893","repostId":2184201811,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":6643336,"gmtCreate":1637322527504,"gmtModify":1637322527593,"authorId":3582601473398148,"author":{"id":3582601473398148,"authorId":3582601473398148,"name":"Lsjlsjlsj","avatar":"https://static.tigerbbs.com/95947e27212e5599989a4b43c4dd038e","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":876268893,"type":1,"supId":0,"prevId":0,"content":"liked","text":"liked","html":"liked"}],"langContent":"CN"},{"id":876261776,"gmtCreate":1637320562766,"gmtModify":1637320563094,"author":{"id":"3582029110525423","authorId":"3582029110525423","name":"14561b30","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","vip":1,"crmLevel":2,"crmLevelSwitch":0},"htmlText":"K","listText":"K","text":"K","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":12,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/876261776","repostId":2184201811,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":6643016,"gmtCreate":1637320583184,"gmtModify":1637320583278,"authorId":3579125484417577,"author":{"id":3579125484417577,"authorId":3579125484417577,"name":"Rara08","avatar":"https://static.tigerbbs.com/ee915a47f3c554f599dce721c2397b4d","vip":1,"crmLevel":1,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":876261776,"type":1,"supId":0,"prevId":0,"content":"<u>ok</u>","text":"<u>ok</u>","html":"<u>ok</u>"}],"langContent":"CN"},{"id":876261539,"gmtCreate":1637320528419,"gmtModify":1637320528931,"author":{"id":"3574212617517822","authorId":"3574212617517822","name":"Konnyaku","avatar":"https://static.tigerbbs.com/151457cadab3ed8bda3b475e79b505f0","vip":1,"crmLevel":2,"crmLevelSwitch":0},"htmlText":"Pls like","listText":"Pls like","text":"Pls like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":9,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/876261539","repostId":2184201811,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":6643013,"gmtCreate":1637320570164,"gmtModify":1637320570268,"authorId":3582029110525423,"author":{"id":3582029110525423,"authorId":3582029110525423,"name":"14561b30","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":876261539,"type":1,"supId":0,"prevId":0,"content":"K","text":"K","html":"K"}],"langContent":"CN"}],"isCommentEnd":false,"newsSizeData":{"likeSize":21,"commentSize":5,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":false,"deviceId":"web-server-community-laohu8-v3","version":"4.26.2","shortVersion":"4.26.2","platform":"web","vendor":"web","appName":"laohu8","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2184201811"}