De Beers could be floated on the stock exchange

Mining group Anglo American, the principal owner of diamond specialist De Beers, is reportedly considering an IPO for the latter, probably in London.

 

The growing success of synthetic diamonds is having an impact on De Beers, which focuses on these naturally extracted stones. Its main owner, the British mining group Anglo American, is considering listing the company on the London Stock Exchange. The information was revealed by Reuters, citing two unnamed sources close to the matter. Anglo American owns 85% of the diamond company’s shares, with the remaining 15% held by the government of Botswana, home to the company’s major mines.

 

According to Reuters, one of its unnamed informants indicated that “potential listing” would be “the default option”, with the process only at an “early stage”.

 

Anglo American break-up plan

 

On May 14, Duncan Wanblad, Anglo American’s CEO, officially announced a break-up plan, consisting of splitting up the group or selling off its worst-performing assets, dedicated to steelmaking coal, nickel, platinum and… diamonds (De Beers).

 



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Featured photo : © De Beers

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Sophie Michentef
Sophie Michentef has worked for more than 30 years in the professional press. For fifteen years, she managed the French and international editorial staff of the Journal du Textile. She now puts her press, textile, fashion, and luxury expertise at the service of newspapers, professional organizations, and companies.

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