Gulf Times – An Abu Dhabi vehicle, big hedge fund managers and Swiss private banks are set to serve as “cornerstone” investors backing commodity trader Glencore’s $12bn flotation, a person familiar with the matter said. Qatar said in March it was considering backing Glencore.
The listing, which could be London’s biggest ever, will be aided by strong support from cornerstones, who could buy nearly 30% of the shares sold—or some $3.6bn worth, if the listing raises its maximum target of $12.1bn.
