Glencore raises US $ 10bn in London's largest ever international IPO
Thursday 26th May 2011
The London Stock Exchange has welcomed Glencore International to its Main Market.
The company joins the UK's Official List with a market capitalisation of US $ 59.2billion, the largest ever IPO on the premium listing segment of the London Stock Exchange.
The company raised US $ 10billion at admission.
Glencore is the first company in 25 years to enter the FTSE 100 Index at admission, the third company in history to do so via the fast entry rule.
Xavier Rolet, Chief Executive Officer of London Stock Exchange Group, said: "As one of the largest IPOs in history, we are delighted Glencore has chosen the London Stock Exchange. Its London listing will give it exposure to the world's deepest pool of international capital; entry to one of the world's most tracked and traded indices, the FTSE 100; and access to a global community of financial and market expertise.
"The size and success of Glencore's flotation shows London is very much open for business, and that its investor base has the appetite and capability to support large fundraisings. Our pipeline is strong, and we look forward to welcoming further companies to our markets in the months ahead."
Glencore is a leading commodities producer and marketer. It produces, sources, processes, refines, transports, stores, finances and supplies commodities to industries around the world. Glencore is headquartered in Baar, Switzerland and incorporated in Jersey. The company has 50 offices in over 40 countries throughout Europe, North, Central and South America, the CIS, Asia, Australia, Africa and the Middle East.
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