RIO Tinto (RIO) Dual Listing

Hi Debbie,

There’s a lot been written about this recently and our first reaction is its irrelevant compared to the price of iron ore (Fe) and the health of Chinas economy.

​Activist investor Palliser Capital wants RIO to discontinue its dual-listing structure between London and Sydney, arguing that the current structure has led to significant lost shareholder value while restricting Rio Tinto’s ability to effectively utilise stock-based acquisitions.  The board of RIO do not agree, believing it will result in substantial tax liabilities, estimated in the mid-single-digit billions, while also potentially causing the loss of franking credits that benefit Australian shareholders.

BHP unified its dual-listed structure in January 2022, which led to an increased weighting of BHP in the ASX 200 index, rising from approximately 6.2% to over 10%, making the miner the largest component of the index at that time.  In August 2021, following the announcement of the unification plans, BHP shares closed down over 6% although they did rally in line with a  strong market in the following six months.

• Overall MM doesn’t believe its a major issue in todays volatile and exciting market.

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RIO Tinto ASX v UK

LAST UPDATED 10/04/2025 14:22

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RIO Tinto ASX v UK

LAST UPDATED 10/04/2025 14:22