Switzerland-based Glencore, the world's second-largest independent crude and products trader, formally communicated on Wednesday its intention to float on the London Stock Exchange, with a secondary listing in Hong Kong. Glencore wants to raise $9 billion-$11 billion by selling 15%-20% of its envisaged postfloat share capital, which would value the whole company at $55 billion-$60 billion. The trading giant will enter the top-flight FTSE 100 index once the listing completes in May.
展开▼
