JSE remains important capital market for AngloGold
Despite moving its primary listing to New York, AngloGold Ashanti (AGA) has affirmed the significance of South Africa as a capital market and source of liquidity for the gold mining major.
Following the completion of its corporate restructuring, AGA retains a secondary listing on the JSE, having listed on the bourse 80 years ago.
JSE capital markets director Valdene Reddy said on Tuesday that the bourse was pleased to continue its work with AGA and confirmed its approval of the secondary inward listing.
“We welcome AGA’s reorganisation, and hope that it will enhance the group’s strategic position. While the primary listing is moving to New York, a secondary inward listing on the JSE bears testament to AGA’s confidence in the South African capital markets which complement its global strategy,” said Reddy.
The new share listing falls under the Gold Mining sector of the JSE’s main board under the abbreviated name ANGGOLD (share code ANG).
AngloGold Ashanti CEO Alberto Calderon said that South Africa remained an important capital market and source of liquidity for AngloGold Ashanti.
“We are aligning our corporate structure with the corporate realities of our business and the evolution of our existing portfolio, which no longer includes any assets in South Africa. South Africa will remain a critically important part of our business, servicing our global portfolio and in particular our mines in Africa, which account for more than half of our gold production,” Calderon added.
Calderon noted that South African shareholders account for more than 40% of the company’s share register, and they would retain an unaltered ability to buy or sell AngloGold Ashanti shares on the JSE.
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