Tsuen Wan International: Glencore believed to be planning $9 biilion - $11 billion IPO.

April 12, 2011 - PRLog -- Tsuen Wan International sources report that persons close to the matter say that the world’s largest commodities trader, Glencore, plans to raise up to $11 billion from an IPO in London and Hong Kong.

The firm will announce the price range for the IPO in early May, when management is scheduled to begin meetings with potential investors. The IPO could raise between $9 billion and $11 billion, the persons speaking on condition of anonymity said.

The proposed IPO will be the world’s largest this year as stock markets recover from Japans natural and nuclear disaster and the ongoing Middle East unrest.

People close to the matter have told Tsuen Wan International sources that a real estate investment trust controlled by Hong Kong billionaire Li Ka-shing has already received orders offered in a $1.7 billion IPO on the first day of the sale.

“Market sentiment will keep improving if Japan’s nuclear crisis doesn’t get any worse,” Nelson Yan an investment manager at Mayfair Pacific Financial Group said. “As a commodities trader, Glencore benefits more or less indirectly from an industry that’s attracting a lot of investor interest.”


Commodities have rebounded over the past twelve months as Chinese growth drives up demand, and the S&P GSCI spot index of 25 raw materials has climbed 39% in the past year, reaching the highest level since August 2008.

Sources wishing to remain anonymous, as the plan is confidential, have also told Tsuen Wan International that Glencore could make a so-called intention to float filing in London on April 14.

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Tsuen Wan International is a leading independent investment company, based in the heart of Hong Kong. Tsuen Wan International offers a variety of investment products for institutional, corporate and high net worth investors in equity debt and FX markets.