IPO

Glencore chief executive says IPO "imminent": report

Reuters News
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Posted: Apr 10, 2011 5:41 PM

LONDON (Reuters) - The chief executive of Glencore, Ivan Glasenberg, was quoted as saying on Sunday that the launch of an initial public offering by the commodities giant was "imminent".

In an interview with the Financial Times, Glasenberg said the $10 billion listing -- which could be the largest to date in London and one of the largest in Europe -- would give the company the firepower it needs.

"We will get firepower and we can buy assets when opportunities present themselves in areas and sizes that we could not do before," Glasenberg said.

Glencore has kept its plans under wraps since briefing analysts more than a month ago.

(Reporting by Karolina Tagaris; Editing by Dale Hudson)