The renowned Swiss commodity company, Glencore International Plc has established the price range for the offer at 480 pence to 580 pence. Approximately $10 billion in shares will be sold in addition to a $1 billion overallotment. The bankers have claimed "material" number of orders on Thursday in spite of a slide in oil and silver prices.
Although the IPO (Initial Public Offering) is yet to be announced, the market is rife with the speculations that the top commodity trader Glencore is going to get a huge setback.
According to the predictions, which are concreted by the pre-IPO research conducted by the Liberum Capital, the insight of the Glencore is not going to produce a pleasant picture.
On Sunday, Bolivia’s socialist government says it is taking over an antimony smelter owned by Swiss Commodities Company Glen core. This government decree was announcing the mining minister Jose Pimentel at the smelter. Presidency Minister Oscar Coca said, “In recent years, there has been a lack of productivity at the plant.
Glencore International sold of $2.2 billion convertible bonds to private, sovereign, institutional and corporate investors, a development which is being viewed as a precursor to an initial public offering. The First Reserve Corp. of U. S, Government of Singapore Investment Corporation, BlackRock and Zijin Mining Group are the major investors.
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