Home
Investment
News & Views
Company News
news storage
Glencore sets float price range
Mon, 21 May, 2012
INVESTMENT NEWS
Company Search
Search QCK.COM
Investment Home
News & Views
Top Stories
Charting
Company Search
Watchlist
Market Reports
Market Buzz
Company News
Economic News
New Issues
Other News
Glencore sets float price range
Wed, 4 May 2011, 13:39:00
Commodity trader <b>Glencore</b> has priced its much anticipated flotation at between 480p and 580p a share, which values the Swiss company at around $66.8bn (£40.3bn) at the top of the range.
 
 The huge valuation will see Glencore go straight into the FTSE 100. A group of investors said to include the emirate of Abu Dhabi are to take a 31% stake in the company. 
 
 Trading in the company is expected to begin on May 19.
 
 Helen Lau, an analyst with Wih Uob Kay Hian said the proposed valuation puts Glencore at a discount to other large commodities traders.
 
 "Not only are they continuing to expand their traditional commodities trading business, they are also investing in upstream business," she said. 
 
 "That is where it should bring in value."
 
 Glencore has headquarters in Baar, Switzerland and markets metals and minerals, agricultural products and energy products. It also owns many production assets including copper mines, zinc mines and oil and coal production facilities.
 
 ---
 RG
©2004-2009 QCK.com
