Deals
Glencore Hong Kong IPO May Lure Noble, Mitsubishi Investors
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Glencore International Plc’s debut today in Hong Kong in the world’s biggest initial public offering this year may tempt investors to switch from rival Asian commodity traders.
Glencore, based in Baar, Switzerland, began trading in London last week and has a market value of $58 billion, making it the world’s biggest listed trader of commodities by capitalization, surpassing Japan’s Mitsubishi Corp. Its size has won it fast-track entry to seven FTSE indexes including the benchmark FTSE 100. The Hong Kong IPO may herald more.