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    Glencore Set to Price $10 Billion IPO on May 19, Will Be the Largest IPO Since GM

    Fri, 05/13/2011 - 15:41 EDT - Seeking Alpha
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    • Renaissance Capital IPO Research

    Renaissance Capital IPO Research submits:
    Glencore, one of the world's largest suppliers of commodities and raw materials, is set to price its highly anticipated initial public offering on May 19. Glencore set a price range of £4.80 - £5.80 (US$8.00 - US$9.67), and is planning to sell $10 billion in shares (80% primary). At the midpoint of the range, Glencore's implied market cap is $61 billion. The company booked US$145 billion in sales and reported Net Income of US$3.8 billion in 2010. The largest IPO since General Motors, Glencore's initial public offering is gaining significant interest. The company has been qualifiedComplete Story »

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