Glencore unveils $11bn IPO plans
It definite with the aim of Tony Hayward, the previous BP chief who resigned with the Gulf of Mexico lubricate spill, self-control join its board equally senior self-supporting director. modish addition, it announced to facilitate non-executive directors fusion the board would live Peter Coates, until keep going week chairman of Australian miner Minera; Leonhard Fischer, chief executive of business border RHJ International; William Macaulay, chief executive of US-private justice cottage original Reserve; and Li Ning, executive director of Hong Kong-based property developer Henderson obtain Development. Glencore explained with the aim of it was targeting an offer of $9bn-$11bn, advertising a 15 to 20 apiece cent stake. The auction choice comprise a primary part of $6.8bn-$8.8bn and a secondary selling by existing shareholders of $2.