Archive

Absa welcomes the completion of Glencore Xstrata Plc’s inward listing on the JSE  

 11/14/2013 

The Corporate and Investment Banking division of Absa Bank Limited (Absa), a member of Barclays Bank Plc, has welcomed the completion of mining and trading group Glencore Xstrata Plc’s (Glencore) inward listing on the Johannesburg Stock Exchange’s (JSE) main board.

The listing comes after Glencore announced at its investor day in September that it was to seek a listing in South Africa in addition to its primary listing on the London Stock Exchange and secondary listing in Hong Kong.

The JSE listing will make investment in Glencore more accessible to South African investors through its classification as a ‘domestic’ equity. The JSE listed shares are fully fungible with those listed in both London and Hong Kong.

Absa acted as the sole sponsor and joint financial advisor to Glencore, in one of the most high profile listings on the JSE in recent times, further confirming the JSE’s position among the world’s leading stock exchanges.

“We are delighted to have worked with Glencore during the JSE listing process. This high profile listing involving a large global client proves once again that Absa has the expertise and capacity to deliver local solutions to its global clients’ African expansion strategies and help them prosper,” says Richard Stout, head of Equity Capital Markets, at Absa.

“We have historically enjoyed a strong relationship with Glencore, through the work that Barclays has done for the group globally and we believe this listing further cements that relationship,” added Stout.

Ends

Prepared by:
Bheki Mpofu
FTI Consulting
011 214 2409
083 552 2109
bheki.mpofu@fticonsulting.com

More information:
Graeme Coetzee
Principal
Marketing and Corporate Communications,
Corporate and Investment Banking, Absa
011 895 6695
079 6959798
graeme.coetzee@absacapital.com

About Corporate and Investment Banking at Absa:

Absa Bank Limited (acting through its Corporate and Investment Banking division), a member of Barclays Bank Plc, is a leading South African corporate and investment bank with global reach, offering clients financing, risk management and advisory solutions in a wide range of currencies and structures across the globe.

Back to top
© Copyright. Absa Bank Limited, Registration number 1986/004794/06. All rights reserved | Authorised Financial Services Provider and a registered credit provider (NCRCP7) | Absa idirect’s FSP 34766; Absa Insurance Company’s FSP 8030