Aabar invests in Glencore flotation

Glencore, the world’s largest commodities trader, recently announced a flotation valued at $11 billion.  Now, Aabar (owned by Abu Dhabi’s International Petroleum Investment Company) has revealed that it has decided to become the largest cornerstone investor outside of the company by investing up to $1 billion worth of shares.  A cornerstone investor is given priority in purchasing shares, but must buy a large amount and pledge not to sell them within 6 months.

Aabar’s chief executive officer, Mohamed al Husseiny, says that the two companies will mutually benefit each other: they will “explore in due course areas of co-operation between the two firms”.  After the flotation, Glencore will be valued at around $61 billion.  Newly released data on the company indicates they control as much as 60% of the third-party zinc market, 50% of copper, 45% of lead, 38% of aluminum and 33% of thermal coal, far higher than industry speculation.

 



Support ASEAN news

Investvine has been a consistent voice in ASEAN news for more than a decade. From breaking news to exclusive interviews with key ASEAN leaders, we have brought you factual and engaging reports – the stories that matter, free of charge.

Like many news organisations, we are striving to survive in an age of reduced advertising and biased journalism. Our mission is to rise above today’s challenges and chart tomorrow’s world with clear, dependable reporting.

Support us now with a donation of your choosing. Your contribution will help us shine a light on important ASEAN stories, reach more people and lift the manifold voices of this dynamic, influential region.

$
Personal Info

Donation Total: $10.00

 

 

Glencore, the world’s largest commodities trader, recently announced a flotation valued at $11 billion.  Now, Aabar (owned by Abu Dhabi’s International Petroleum Investment Company) has revealed that it has decided to become the largest cornerstone investor outside of the company by investing up to $1 billion worth of shares.  A cornerstone investor is given priority in purchasing shares, but must buy a large amount and pledge not to sell them within 6 months. Aabar’s chief executive officer, Mohamed al Husseiny, says that the two companies will mutually benefit each other: they will “explore in due course areas of co-operation between...

Glencore, the world’s largest commodities trader, recently announced a flotation valued at $11 billion.  Now, Aabar (owned by Abu Dhabi’s International Petroleum Investment Company) has revealed that it has decided to become the largest cornerstone investor outside of the company by investing up to $1 billion worth of shares.  A cornerstone investor is given priority in purchasing shares, but must buy a large amount and pledge not to sell them within 6 months.

Aabar’s chief executive officer, Mohamed al Husseiny, says that the two companies will mutually benefit each other: they will “explore in due course areas of co-operation between the two firms”.  After the flotation, Glencore will be valued at around $61 billion.  Newly released data on the company indicates they control as much as 60% of the third-party zinc market, 50% of copper, 45% of lead, 38% of aluminum and 33% of thermal coal, far higher than industry speculation.

 



Support ASEAN news

Investvine has been a consistent voice in ASEAN news for more than a decade. From breaking news to exclusive interviews with key ASEAN leaders, we have brought you factual and engaging reports – the stories that matter, free of charge.

Like many news organisations, we are striving to survive in an age of reduced advertising and biased journalism. Our mission is to rise above today’s challenges and chart tomorrow’s world with clear, dependable reporting.

Support us now with a donation of your choosing. Your contribution will help us shine a light on important ASEAN stories, reach more people and lift the manifold voices of this dynamic, influential region.

$
Personal Info

Donation Total: $10.00

 

 

NO COMMENTS

Leave a Reply