Talk about a tough time to go public: how'd you like to be the world's largest commodities trading firm, going public in this environment?
That's exactly what's happening: Glencore is going public in a monster dual listing on the London Stock Exchange and Hong Kong Stock Exchange. (No NYSE? Gads!)
In London, they will be seeking to raise about $11 billion, the largest IPO ever in London. They'll also be seeking to raise about $318 million in Hong Kong.
Glencore's CEO, Ivan Glasenberg, has been all over the place saying there is strong demand for the IPO and that the decline in commodities was due to "froth" in the market.
Glencore is set to begin trading in London and Hong Kong next Thursday.
No Chinese IPOs, but online professional site LinkedIn coming at NYSE. They're seeking to raise 7.84 million shares at $32-$35. Trading Thursday.
The biggest IPO next week is shopping center REIT Schottenstein Realty, which is seeking to raise 26.67 million shares at a price range of $14-$16. Trading Tuesday.
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