South32's debut set to be biggest mining listing globally in 4 years
Melbourne
BHP Billiton's spin-off of South32 debuts on Monday in what is set to be the biggest mining listing globally in four years and a test of whether investors are starting to see value in battered mining shares.
Forecasts for South32's debut price range between A$2.00 and A$3.00 a share. The top end would value the company at A$16 billion (S$17 billion), making it Australia's biggest new listing in 15 years and the biggest mining listing since commodities giant Glencore Plc in 2011.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Energy & Commodities
Oil falls to 7-week low on surprise US storage build, Middle East hopes
US, Philippines eye agreement to cut China nickel dominance
Oil eases on higher US crude output, hopes of Israel-Hamas ceasefire
Glencore now sees FY trading division profit between US$3 billion-US$3.5 billion
Hong Kong team plants seeds to safeguard legacy grains
Gold holds steady as investors focus on US Fed meeting