Our Q&As are emailed in our Saturday Morning Report, find the answer to this question below.
Hi James and team, CSC, currently listed on the Toronto Exchange, lists on our market today. What drives a company like Capstone (operating mainly in the US, Mexico and Chile) to co-list in the Australian market? As it's about 5 time bigger than SFR, what are the implications for our Cu producers ? Regards, JanP
Hi Jan,
Firstly Capstone Copper (CS CN) has a market cap of ~$5.2bn, compared to Sandfire Resources (SFR) at $3.2bn. As of 2.30pm on Friday CDC hadn’t yet traded after going into a Trading Halt 15-minutes before the market opened but Rome wasn’t built in a day. The company would be looking for broader global coverage and importantly, access to alternative capital markets if/when required i.e. bigger pool of $$. The downside is more admin and regulatory costs for the business.
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