Commodities giant Glencore said it is reviewing its London listing as it reported a fall in 2024 earnings, but will return around $2.2 billion to shareholders.

The company said Wednesday that the optimal location for its primary listing remains under study. The London Stock Exchange has been suffering from a number of high-profile delistings, including chip maker Arm Holdings and betting company Flutter Entertainment which chose New York over the U.K., and a preference amongst company founders to list in the U.S. in search of higher valuations.