China Investment Corporation (CIC), Singapore’s Temasek and Korea Investment Corporation are backing Glencore’s initial public offering, The Guardian reports. The Swiss-based commodities company is seeking a market price tag of up to $73 billion.
The Asian sovereign wealth funds (SWFs) will be cornerstone investors for Glencore’s flotation on the London and Hong Kong stock exchanges. The pre-sale research is being conducted by banks, such as Citigroup and Credit Suisse.
Click here for the story from The Guardian.