By Max Clarke
Leading commodities producing and trading firm Glencore are further establishing themselves on the world stage with a global offer of shares as part of its Initial Public Offering.
Predicted to be worth in excess of $10 billion, the offering will comprise offering new shares as well as selling existing company shares to shareholders.
Glencore intends to apply for Admission of its ordinary shares to the premium listing segment of the Official List of the UK Listing Authority and primary listing on the main market of the London Stock Exchange, and a secondary listing of its ordinary shares on the Hong Kong Stock Exchange. Glencore is a leading integrated producer and marketer of commodities with worldwide activities in the marketing of metals and minerals, energy products and agricultural products as well as the production, refinement, processing, storage and transport of these products.
“Over many decades, we have developed Glencore into an unrivalled global integrated commodity producer and marketer,” commented Glencore’s CEO, Ivan Glasenburg, “active in almost every bulk commodity market. An IPO is the next logical step in our development and strategy. It will provide us with the financial flexibility to capitalise upon long-term growth opportunities throughout our business and achieve further sustainable growth. It will also offer international investors an opportunity to invest in our unique commodities business model and participate in our future growth.”