As Linc Energy prepares to buy a shuttered Rio Tinto coal mine, the company has shocked the market with a decision to abandon the ASX in preference for a listing in Singapore. It’s bold, but is it wise? Elsewhere, another ANZ play for a Hong Kong bank appears set to come to nothing, Westpac remains in front in the pursuit for Lloyds’ Australian assets and the Warrnambool Cheese and Butter board gets a boost in its attempts to shun suitor Bega.
Linc Energy, Rio Tinto
Linc Energy appears done with the Australian sharemarket, yesterday announcing plans to delist from the ASX and float on the Singapore Exchange instead. Before then it will be acquiring coal mining assets in Queensland.