Glencore confirms IPO of up to $11 billion

Some 2.5% to 10% of the deal will be earmarked for Hong Kong retail investors, while the rest will be marketed as a single global institutional tranche.

Glencore confirms IPO of up to $11 billion

Glencore International, the Swiss producer and trader of commodities, has set the ball rolling for its upcoming dual listing in London and Hong Kong by announcing its intention to float. The obligatory announcement to the London Stock Exchange yesterday confirmed earlier media reports that it will seek to raise between $9 billion and $11 billion, which will make it the largest initial public offering in the world this year ahead of Hutchison Port Holdings Trust’ $5.45 billion listing...

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