London Stock Exchange welcomes Wheaton Precious Metals to the Main Market

London Stock Exchange today welcomes Wheaton Precious Metals Corp. ("Wheaton" or the "Company") (LSE, NYSE, TSX: WPM), one of the world’s largest precious metals streaming companies, to trading on the Main Market.  Wheaton is the first company of its kind to join the bourse, offering investors with the upside associated with mining companies but with a much lower risk profile.  

The Company’s shares were admitted to the Standard Segment of the Official List of the Financial Conduct Authority, at 8am on Wednesday 28th October 2020. The Company will maintain a primary listing on the Toronto Stock Exchange, as well as a listing on the New York Stock Exchange.

Wheaton is a streaming company, which generates its revenue primarily from the sale of precious metals. The Company enters into purchase agreements to purchase all, or a portion, of the precious metals production from mines located around the world for an upfront payment and an additional payment upon the delivery of the precious metal. As of today, Wheaton has entered into purchase agreements with 17 different mining companies relating to 20 currently operating mining assets, and nine which are at various stages of development, located across 11 countries. Its business model offers investors commodity price leverage and delivers amongst the highest cash operating margins in the mining industry. As a result, Wheaton has consistently outperformed gold and silver, as well as other mining investments. 

The Company’s unique business model creates significant shareholder value by providing:
•    leverage to increases in the price of precious metals;
•    additional growth through accretive acquisitions of new streams;
•    a competitive dividend yield, which has the potential to grow over time; and,
•    participation in the exploration and expansion success of the mines underlying current streaming agreements.

Wheaton offers these benefits while at the same time reduces many of the downside risks faced by traditional mining companies. In particular, Wheaton offers its investors both capital and operating cost predictability. Other than its initial upfront payment, Wheaton typically has no ongoing capital or exploration costs.  

Wheaton has an experienced management team whose vision is to be the world’s premier precious metals investment vehicle and to deliver sustainable value through streaming to all of its stakeholders. 

The Company is a leader in sustainability amongst the streaming and royalty companies having joined the UN Global Compact in 2019 and maintaining a dedicated support program for local communities around the mines from which the Company receives metals.

Randy Smallwood, President & CEO of Wheaton Precious Metals, commented: “We are delighted to be celebrating Wheaton’s London Stock Exchange listing today, a pivotal moment in the Company’s journey.  Our business model offers UK investors a unique and appealing opportunity to gain exposure to precious metals through a high-quality portfolio of long-life, low-cost assets. We believe Wheaton is the best way to invest in the sector and we are confident in the underlying market dynamics.” 

“Our key aim is to deliver value through streaming to all of our stakeholders: To our shareholders, by delivering low-risk, high-quality, diversified exposure and growth optionality to precious metals; to our partners, by crystallizing value for precious metals yet to be produced; and, to our neighbours, by promoting responsible mining practices and supporting the communities in which we live and operate.”

“We would like to thank London Stock Exchange for its warm welcome, and our employees and shareholders who have supported us thus far. We look forward to their continued support as we commence the next phase of our growth strategy.”

Wheaton has appointed Joh. Berenberg, Gossler & Co. KG and Peel Hunt LLP as joint UK corporate brokers and Tavistock Communications Ltd. as its UK public relations adviser. Bryan Cave Leighton Paisner LLP (BCLP) has acted as the UK legal adviser.

 

Quick facts

Track
Market: Main Market
Instrument market cap (£m)
15,598.43
Listing/Admission to trading
28 Oct 2020
Looking for new and recent issues?

More recent

31.36
London Stock Exchange welcomes The Arab Federation of Capital Markets.

  General Overview 

The Arab Federation of Capital Markets (AFCM) is the Arab industry group for Exchanges and Clearing houses, and Financial Institutions around the Arab regions. It was established in 1978 to be the guiding body for the Arab Stock Exchanges, under the recommendation of the Arab Central Ban

Learn more
121.96
London Stock Exchange welcomes EnSilica plc to AIM

EnSilica is a designer and supplier of mixed signal ASICs (Application Specific Integrated Circuit). ASICs are Integrated Circuits or semiconductor chips developed for a particular use or product rather than for general purpose usage.  ASICs help differentiate products through optimised hardware making products smaller, faster, lower power, improved security, add

Learn more
60.84
London Stock Exchange Group welcomes The Future Investment Initiative Institute, celebrating the launch of the FII regional summit “Inclusive ESG for Emerging Markets”

The Future Investment Initiative (FII) Institute is a new global nonprofit foundation with an investment arm and one agenda: Impact on Humanity. Global, inclusive and committed to ESG principles, the FII Institute fosters great minds from around the world and turn ideas into real-world solutions in four critical areas: AI and Robotics, Education, Healthcare and Sustainability. The FII Institute

Learn more
European Assets Trust PLC celebrates 50 years.

This year, European Assets Trust PLC celebrates its fiftieth anniversary since launch in May 1972. The Company was created in 1972 following the acquisition of a Dutch investment company ‘Mijbeb NV’ by a consortium of United Kingdom institutional investors and the appointment of a predecessor of BMO Investment Business Limited as its Manager.

Initially the Company was listed solely on

Learn more