https://www.theglobeandmail.com/
Barrick Gold Corp. is hoping to be included in the S&P 500 Index in the United States but plans to keep its head office in Canada, a potentially tricky manoeuvre that, if successful, would open up the giant miner to an even larger pool of investors.
Being included in the S&P 500 would result in increased buying of Toronto-based Barrick from large institutional investors, such as index funds. While specialist mining funds have been in decline over the past decade, index-tracking exchange-traded funds are making up a bigger swath of the investment pool.
“That’s something that’s always been of interest to me, because if we got on the S&P, the index demand would increase substantially,” Barrick chief executive Mark Bristow said in an interview.
Barrick’s primary stock listing is currently on the Toronto Stock Exchange and it has a secondary listing on the New York Stock Exchange.
Gaining entry to the S&P 500 wouldn’t be straightforward. To list on the marquee U.S. index, normally a company must be domiciled in the United States, should be headquartered in the U.S. and have more of its assets and revenue coming from the U.S. than anywhere else.
For the rest of this article: https://www.theglobeandmail.com/business/industry-news/energy-and-resources/article-barrick-profit-tops-forecasts-as-gold-prices-surge-hikes-dividend/