Glencore Said to Seek About $2.5 Billion in Hong Kong Listing

Glencore International AG, the world’s largest commodities trader, plans to raise about $2 billion to $2.5 billion in Hong Kong as part of a $10 billion initial public offering in the Chinese city and London, according to two people familiar with the matter.

Glencore intends to sell shares in the second or third quarter, said the people, who declined to be identified because the information is private. Citigroup Inc., Credit Suisse Group AG and Morgan Stanley are among banks handling the IPO, they said. Marc Ocskay, a Glencore spokesman, declined to comment.