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Asian Wealth Funds Back $73B Glencore IPO

China Investment Corporation Singapore’s Temasek and Korea Investment Corporation are backing Glencore’s initial public offering.

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.


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