Arab Today, arab today glencore sets share price in year\s biggest ipo
Last Updated : GMT 16:35:19
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

 



Arab Today, arab today

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 France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Zainab Fadel Oglu designs “Shakerin” mosque

GMT 12:13 2017 Thursday ,11 May

Zainab Fadel Oglu designs “Shakerin” mosque
Arab Today, arab today Seeks to move past rift with Israel

GMT 08:00 2017 Monday ,08 May

Seeks to move past rift with Israel
View News in Arabic - Business: أخبار الأعمال
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Girl barred from Malaysia chess competition

GMT 09:49 2017 Tuesday ,02 May

Girl barred from Malaysia chess competition
Arab Today, arab today Mozambique's gas boom dream under threat

GMT 16:29 2017 Monday ,08 May

Mozambique's gas boom dream under threat
Arab Today, arab today Prepares to give stargazers an eyeful

GMT 13:38 2017 Monday ,06 March

Prepares to give stargazers an eyeful
Arab Today, arab today Jaguar displays XF Sportbrake line

GMT 14:36 2017 Monday ,08 May

Jaguar displays XF Sportbrake line
Arab Today, arab today BMW sees forecasts in reach

GMT 09:04 2017 Thursday ,04 May

BMW sees forecasts in reach
Arab Today, arab today Climate science: Bad news gets worse

GMT 08:48 2017 Saturday ,06 May

Climate science: Bad news gets worse
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