15 October 1998
Anglo American Corporation, founded in 1917 by Sir Ernest Oppenheimer to exploit the gold fields of the East Rand, announced that it intended to transfer its main listing from the Johannesburg Stock Exchange (JSE) to the London Stock Exchange. This move was in order to provide a better base for international expansion from which to access capital markets. The process of transferring the primary listing to London was the culmination of a hectic period of restructuring in the corporation. Anglo American plc was formed in May 1999 through the combination of Anglo American Corporation of South Africa (AACSA) and Minorco. The new company was listed in London, Johannesburg and Switzerland on 24 May 1999. Anglo American Corporation completed the biggest Black empowerment deals in South African corporate history in 1996 through the sale of interests in Johnnic and JCI to the National Empowerment Consortium and the African Mining Group. While the primary listing of the Company's ordinary shares is on the London Stock Exchange it also lists on the JSE Securities Exchange South Africa (JSE), the SWX Swiss Exchange, the Botswana Stock Exchange and the Namibian Stock Exchange.