PR Newswire | 25 Sep, 2014
LONDON: Anil Agarwal, Group Chairman, Vedanta Resources Plc and Tom Albanese, Group CEO, Vedanta Resources Plc opened the market at the London Stock Exchange today to celebrate ten years of Vedanta's main market listing, confirming the Group's long-term commitment to its listing on the London Stock Exchange. His Excellency Ranjan Mathai, the Indian High Commissioner to the UK, will also be in attendance to mark this milestone.
At the time of flotation in 2003, Vedanta was the first Indian company to gain a premium listing on the London Stock Exchange, and it immediately qualified to enter the FTSE 250. The IPO was the second-largest of the year in London.
Vedanta's listing has provided an excellent platform for growth over the last ten years. In this decade, Vedanta has offered global investors exposure to the fast-growing Indian market. Vedanta's share price has increased by 175% since its listing, outperforming the FTSE 100 and FTSE 250 Mining indices by a significant margin. The Group has delivered a total shareholder return of 12% per annum since flotation, returning $1.4 billion of capital to shareholders.
Today, Vedanta is amongst the largest globally diversified natural resources company. It has increased production ten-fold since 2003, with strong organic growth supported by select acquisitions including Cairn India, KCM, Anglo American Zinc and Sesa Goa. With an EBITDA of approximately $4.5 billion for the financial year 2014, the combined market capitalization of all of the Group's listed companies currently stands at approximately $40 billion. The Group now employs 88,000 people directly and indirectly across four continents, with a particular focus on India and Africa, where it holds the majority of its assets. Its community development programme has benefited over 4 million people in local communities where the Group operates.
"Our London listing has played a very important role in building Vedanta into the company it is today and we believe that it will be a significant part of the Group's future. We are proud of what we have achieved and would like to thank all those who have contributed to Vedanta's success. I look forward to building on this success with many more decades of partnership here in London," commented Anil Agarwal.
Xavier Rolet, CEO of the London Stock Exchange Group, said: "We are delighted to welcome Vedanta, a truly inspiring Indian success story, to open the market this morning, 10 years since joining LSE. In that time, the company has gone from strength to strength, demonstrating London's ability to provide ambitious international companies with the ongoing financing and profile that have helped Vedanta grow into the global business it is today."
About Vedanta Resources Plc
Vedanta Resources plc ("Vedanta") is a London listed, one of the world's largest, diversified natural resources company. The group produces aluminium, copper, zinc, lead, silver, iron ore, oil and gas and commercial energy. Vedanta has operations in India, Zambia, Namibia, South Africa, Ireland, Liberia, Australia and Sri Lanka. With an empowered talent pool globally, Vedanta places strong emphasis on partnering with all its stakeholders based on the core values of entrepreneurship, excellence, trust, inclusiveness and growth.
For more information, please visit: http://www.vedantaresources.com
This press release contains "forward-looking statements" - that is, statements related to future, not past, events. In this context, forward-looking statements often address our expected future business and financial performance, and often contain words such as "expects," "anticipates," "intends," "plans," "believes," "seeks," "should" or "will." Forward-looking statements by their nature address matters that are, to different degrees, uncertain. For us, uncertainties arise from the behaviour of financial and metals markets including the London Metal Exchange, fluctuations in interest and or exchange rates and metal prices; from future integration of acquired businesses; and from numerous other matters of national, regional and global scale, including those of a political, economic, business, competitive or regulatory nature. These uncertainties may cause our actual future results to be materially different that those expressed in our forward-looking statements. We do not undertake to update our forward-looking statements.
Vedanta Resources plc
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