BHP Billiton Limited
(ASX:BHP) spin-off South32 Limited
(ASX:S32) starts trading at midday today.
The stock is expected to debut in the ASX Top 50 and could even make it into the Top 20.
The mining spin-off should create one of the 20 largest mining companies in the world with assets across Brazil, Columbia, South Africa, Australia and Mozambique.
Analysts are expecting the stock to trade anywhere between $2 to $3.50 a share. BHP Billiton investors are receiving one South32 share for each BHP share they own.
The de-merger will allow BHP to ramp up production at its core commodities of iron ore, copper, coal and petroleum.
BHP Billiton reported a half yearly net profit of $5.8 billion for the 2015 financial year.
