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Glencore secures HK exchange nod for planned $10 bln IPO -sources

Published 04/01/2011, 05:14 AM
Updated 04/01/2011, 05:16 AM

HONG KONG, April 1 (Reuters) - Glencore International AG , the global commodities trader, has secured approval from Hong Kong's stock exchange for its planned initial public offering, which could raise about $10 billion, sources with direct knowledge of the matter told Reuters on Friday.

Glencore is considering a dual listing in London and Hong Kong and the approval from Hong Kong exchange is the strongest sign yet that that the company is expected to proceed with the offering.

Glencore declined to comment.

Glencore's listing application was considered by the Hong Kong exchange at a scheduled meeting on Thursday. (Reporting by Fiona Lau and Denny Thomas; Editing by Chris Lewis)

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