From next Monday, BHP will be reincarnated as a wholly Australian company after 21 years of divided loyalties between the ASX and the London Stock Exchange.
Shares representing 42% of its issued capital will relocate to Australia, taking the mining company from just over 6% of the ASX 200 to about 10%. BHP will dominate its home sharemarket like no other company does in a major economy around the world.
With an already jittery sharemarket -- there are nerves about tomorrow’s December quarter Consumer Price Index and the two-day meeting of the US Federal Reserve -- BHP's pending relocation will make for volatility. As a bonus, there are only four trading days this week.