- Awards
- Buy side
- Case studies
- Corporate access
- Corporate governance
- Deals
- Disclosure & regulation
- Earnings calls & financial reporting
- IPOs
- IR TV
- IR websites
- People & careers
- Proxy voting & annual meetings
- Sell side
- Shareholder targeting & ID
- Social media & other technology
- Stock exchanges & listings
- Sustainability
- Special publications
Glencore eyes $10 bn share sale
Commodities trader lining up banks with view to listing next spring, says newspaper
| Tweet |
Glencore, the commodities trader, is considering a listing on the London Stock Exchange that could bring in $10 bn, according to a newspaper report.
The firm has brought in Credit Suisse, Citigroup and Morgan Stanley to help it prepare for a listing ‘as early as April’, states the UK’s Sunday Times.
Insiders say Glencore plans to sell around a fifth of its shares to give the trader funds to make acquisitions. The company would also seek a listing on the Hong Kong Stock Exchange, adds the report.
Glencore is one of the world’s largest privately held companies and a London listing would place it in the FTSE 100 index. Based in Baar, Switzerland, Glencore not only trades commodities but also owns mines and refining plants.
The firm also owns significant stakes in other commodities players, such as a third of Xstrata, another Switzerland-based mining company, and 9 percent of UC Rusal, the Russian aluminum firm.
Market commentators have highlighted Xstrata as one potential target for a newly capitalized Glencore.
|
|
You must be signed-in to rate this article
The OTCQX® marketplace offers the best-informed and most efficient trading of US and global companies. To qualify for the OTCQX marketplace, companies must meet high financial standards, be current in their disclosure and be sponsored by a professional third-party adviser. Designed for the largest and most liquid shareholder-friendly companies, OTCQX ensures investors have the information necessary to intelligently analyze, value and trade their securities.
To learn more, visit us at www.otcmarkets.com.
More articles like this
Please take a moment to read an opinion piece on dividend taxation and the debt bias from OTC Markets Group’s president and CEO, R Cromwell Coulson. Just published on Forbes.com, the column discusses how the US tax code currently favors interest payments on debt over dividend payments to shareholders and possible changes in the US dividend tax rate could make it significantly worse. It also explains why removing the debt bias from our US tax policy will promote growth and a strong economy, and will allow profitable companies to return excess capital to their shareholders. To learn more about OTC Markets Group, visit our website: www.otcmarkets.com.
To view this report, please click here.
Featured Articles
A lesson in IR – the Turkcell way
Turkish telecoms leader brings IR to Istanbul’s Bahçeşehir University
Global fund managers wary of China
Slower Chinese growth seen as top ‘tail risk’ by investors
Print edition
Find out what appeared in the May 2013 edition of IR magazine
Reader Comments (0)
Be the first to comment and kickstart the debate!
You must be registered to comment.
Please Sign In or Register.