Glencore plans dual IPO listing in Hong Kong, London

Swiss commodities trader Glencore International AG is planning a dual listing of its shares in Hong Kong and London, industry media reported. The listing could potentially raise between US$7 and US$10 billion. The decision marks a milestone for the Baar, Switzerland-based firm, a leading force in the supply of commodities such as aluminum, copper, oil and wheat. Some big anchor investors are already lined up for a piece of the initial public offering, including the Government of Singapore Investment Corp., China’s Zijin Mining Group Co. and BlackRock Inc. The deal is expected between April and June, market conditions allowing. (January 27, 2011)