Arab Today, arab today glencore sets share price in year\s biggest ipo
Last Updated : GMT 21:28:57
Arab Today, arab today
Arab Today, arab today

Dow Jones: sale expected to raise about $9.88b

Glencore sets share price in year\'s biggest IPO

Arab Today, arab today

Arab Today, arab today Glencore sets share price in year\'s biggest IPO

Glencore has set a price for its dual initial public offering in Hong Kong and London
HONG KONG - AFP

Glencore has set a price for its dual initial public offering in Hong Kong and London Commodities giant Glencore has set a price for its dual initial public offering in Hong Kong and London, which will be the world\'s biggest so far this year, a report said Wednesday. The Switzerland-based giant has priced its shares at between £4.80 and £5.80 ($7.91-$9.55) for a sale expected to raise about $9.88 billion, Dow Jones Newswires said, citing people familiar with the deal.
Glencore, whose new shares are slated to start trading in the two cities later this month, has said that if the IPO is over-subscribed, it could sell more shares, sending the listing to about $12 billion.
The sale would value Glencore, the world\'s biggest commodities trader by revenue, worth up to $60 billion.
The firm is expected to announce more details of the offer later Wednesday.
Glencore has already secured $3.1 billion from so-called cornerstone investors, including sovereign wealth funds in Singapore and Abu Dhabi, asset managers and private banks, according to earlier reports.
The IPO is expected to overshadow the $5.5 billion Singapore offering of Hong Kong billionaire Li Ka-shing\'s Hutchison Port Holdings Trust in March.
Glencore has said it would funds raised by the listing to pay down debt, boost its stake in Kazzinc, a zinc producer with core operations in eastern Kazakhstan, and finance other projects to expand its business.
The sale comes as commodity prices soar amid huge demand from Asia, particularly China and India, for resources to power their economies.
Founded in April 1974 by trader Marc Rich, Glencore operated initially out of a small apartment in central Switzerland\'s Zug canton before quickly emerging as a major player in commodities.
From metals, minerals and crude oil, the group moved into agricultural goods and it also purchased its own mines.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today glencore sets share price in year\s biggest ipo Arab Today, arab today glencore sets share price in year\s biggest ipo

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today glencore sets share price in year\s biggest ipo Arab Today, arab today glencore sets share price in year\s biggest ipo

 



Arab Today, arab today
Arab Today, arab today Youssra depended on colored foam

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today Lufthansa chief eyes up to 78

GMT 11:29 2017 Thursday ,21 September

Lufthansa chief eyes up to 78
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today Rouhani at UN defends Iran nuclear deal

GMT 09:41 2017 Thursday ,21 September

Rouhani at UN defends Iran nuclear deal
Arab Today, arab today Saudi Arabia to unblock internet calling apps

GMT 11:31 2017 Wednesday ,20 September

Saudi Arabia to unblock internet calling apps
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Ministry seeks to improve education

GMT 14:49 2017 Sunday ,17 September

Ministry seeks to improve education
Arab Today, arab today China lifts 10-year travel ban

GMT 18:09 2017 Thursday ,21 September

China lifts 10-year travel ban
Arab Today, arab today Puerto Rico, Virgin Islands brace

GMT 12:01 2017 Wednesday ,20 September

Puerto Rico, Virgin Islands brace
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Intel chips loaded in Waymo

GMT 14:43 2017 Wednesday ,20 September

Intel chips loaded in Waymo
Arab Today, arab today Five trends at the Frankfurt auto show

GMT 12:04 2017 Monday ,18 September

Five trends at the Frankfurt auto show
Arab Today, arab today Actress Ream Hhagag prepares for a new film

GMT 09:40 2017 Tuesday ,19 September

Actress Ream Hhagag prepares for a new film
Arab Today, arab today France hopeful of persuading Trump

GMT 06:21 2017 Wednesday ,20 September

France hopeful of persuading Trump

GMT 12:14 2017 Monday ,18 September

Horia Farghaly happy for success of “Case G”

GMT 10:35 2017 Thursday ,14 September

New Zealand opposition looks

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha

GMT 19:18 2017 Monday ,18 September

5,000 'Dieselgate' deaths in Europe per year

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 04:49 2017 Wednesday ,20 September

WHO urges Yemen to accept vaccines

GMT 16:04 2017 Tuesday ,19 September

Egypt tourism revival steady but slow

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 12:46 2017 Thursday ,21 September

Google likely to buy stake in Taiwan smartphone maker HTC

GMT 11:37 2017 Saturday ,12 August

Fashion designer reveals her new collection
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday