Palliser Capital calls for resolution on review of Rio's dual listing

(Reuters) - Activist investor Palliser Capital and over 100 other shareholders on Thursday called for a resolution over an independent review of Rio Tinto's dual-listed model to unify its corporate structure.

Earlier this month, UK-based Palliser pushed Rio Tinto to abandon its primary London listing and unify its corporate structure in Australia, saying about $50 billion in shareholder value has already been lost due to the current dual-listed setup.

Palliser's initial proposal to unify Rio Tinto's dual-listed structure garnered widespread support from stakeholders, analysts, and investors across Australia and the UK, the hedge fund said.

"In our view, it is, in fact, incumbent on management to now fully and transparently justify to the investor community exactly why Rio Tinto is immune from all of the globally-accepted inefficiencies of a DLC (dual listed company) structure," Palliser Capital said.

Rio Tinto, the world's biggest iron ore producer, did not immediately respond to a Reuters request for comment.

(Reporting by Roushni Nair in Bengaluru; Editing by Sonia Cheema and Eileen Soreng)