BHP Group Limited            

BHP Group Limited (LON: BHP) is involved in extracting and processing of minerals, oil, and gas.

Business Update: Delisting of Share from LSE

Investors in BHP Group in London and Sydney have agreed to scrap the mining company's dual listing favouring a single listing in Sydney. More than 97% of investors voted in favour of the plan at a business shareholder meeting in London.

According to US investor Elliott Advisors, BHP's share listings should be consolidated into one corporate structure; however, BHP's primary listing should be in London. Given the firm's history and economic importance to Australia, the Australian government was opposed to this choice. BHP is Australia's second-biggest iron ore producer and the country's largest supplier of hard coking coal and a copper and nickel company. It intends to start a potash company in Canada.

The FTSE 100 index will lose one of its largest firms because of the decision, although it will keep its conventional London listing.

One Year Share Price Chart

(Data Source: Refinitiv, Analysis by Kalkine Group)

BHP Group Limited was trading at GBX 2,514.80 (as of 15 February 2022, at 08:14 AM GMT), and approaching the overbought zone according to 14-day RSI (~60.59).

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