Glencore raises $10 billion through IPO

19th May 2011, Comments 0 comments

Swiss commodities giant Glencore said Thursday that it had raised about $10 billion through its initial public offering at the London and Hong Kong stock markets, an operation that it described as a success.

The stock market listing values the Baar-based group at approximately $59.2 billion and marks the biggest IPO so far this year.

"Glencore's offer has seen substantial interest from investors around the world and was significantly oversubscribed throughout the price range providing Glencore with a high quality, diverse and geographically spread investor base," said Ivan Glasenberg, Glencore chief executive officer.

© 2011 AFP

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