HONG KONG - Swiss commodities trader Glencore International AG to an initial public offering in Hong Kong by the listing of the stock exchange of the City Committee has been approved, a person with Friday familiar the situation said.
Glencore, which aims to make a dual listing in Hong Kong and London up to $ 10 billion will first start the book building of the deals in London, said the person. Book in Hong Kong programme at a later date, but the subscription time in London and Hong Kong are on the same day, said the person, without a time frame.
Glencore has rent Citigroup Inc., Credit Suisse Group and Morgan Stanley, which just handle business, people with the situation said familiar.
Write to Prudence Ho at prudence.ho@dowjones.com
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