This secondary listing is part of Wheaton's growth strategy and brings one of the world's largest precious metal streaming companies to the London Stock Exchange
Paternoster Square near London Stock Exchange. (Credit: Kaihsu Tai/Wikipedia.org)
Wheaton Precious Metals Corp. (“Wheaton” or the “Company”) is pleased to announce its intention to seek the listing of its Shares on the standard listing segment of the Official List of the FCA and admission to trading on the main market for listed securities of the London Stock Exchange (“Admission”). This secondary listing is part of Wheaton’s growth strategy and brings one of the world’s largest precious metal streaming companies to the London Stock Exchange (“LSE”). Subject to required regulatory approvals from the FCA and the LSE, including publication of a Prospectus, the Company intends to seek Admission during Q4 2020.
“As a leader in the precious metals sector, Wheaton is excited to take our place amongst the largest mining companies globally on the London Stock Exchange. Wheaton is one of the world’s largest precious metals streaming companies, providing investors a unique and sustainable proposition with some of the highest margins in the mining industry and exposure to a high-quality portfolio of assets. As a result, the Company has consistently outperformed gold and silver historically, as well as most other traditional mining investments,” said Randy Smallwood, President and Chief Executive Officer of Wheaton.
“We have a strong track record of distributing a large portion of our earnings as dividends while retaining the financial firepower to sustainably grow the Company through accretive acquisitions. The listing will complement our existing North American stock exchange listings, which have served us well over the years and supported our growth.”
The Company is not intending to raise capital in conjunction with Admission and will be retaining its primary listing on the Toronto Stock Exchange (“TSX”) and dual listing on the New York Stock Exchange (“NYSE”), where it continues to trade under the ticker “WPM”.
Reasons for the LSE Listing
Wheaton considers that Admission to trading on the main market of the LSE, in addition to the Company’s current TSX and NYSE listings, will enhance the Company’s access to the pools of equity capital available in the United Kingdom and key financial centres in the EMEA region.
This proposed listing will support the Company’s plans for growth and brings the first senior precious metal streaming company to the LSE.
Source: Company Press Release