Glencore kept a lid on its aspirations for a much-hyped market debut, targeting proceeds of $11 billion after securing record commitments from investors. The commodities trader set a price range of 480 to 580 pence per share for the London IPO, confirming an earlier Reuters report. That values it at $61 billion at the mid-point, in line with early forecasts. Glencore is planning a dual-listing in London and Hong Kong.
Hedge fund stories from the past 24 hours from Reuters and elsewhere:
Hedge funds seek closure of Venus Remedies – Economic Times
New Merk funds offer currency for all – Reuters
Hedgies profit from bank rally – MarketWatch
Tudor’s Hillery joins Brevan Howard – FT Alphaville