Local investors are veryinterested in the IPO of the Swiss Glencore group, world's largestcommodities trader, in which they have already subscribed severalmillion of euros, according to information on themarket.
Glencore's floatation is now thehottest topic on the capital markets of the world, with majorinvestors from US to Asia keeping an eye on the ongoing IPO on theLondon and Hong Kong markets. The Glencore rush has reachedRomania, too, with a number of investors having called theirbrokers to find out how they could get some shares in the worldwidedeal of the year.
Glencore's name has been shroudedin mystery until recently. Though seen as the world's biggestcommodities trader, little had been known of its business and itsmain stockholders until a month ago. The Glencore group is evenless known in Romania, although it is one of the biggest traders onthe grain market, along with three other giants, Cargill, Alfred C.Toepfer and Bunge. The group, however, has kept a low profile,being known only to the major players on the grain market where itoperates.
Despite the scarcity of availableinformation brokers say local investors are keenly interested inthis offer and the amounts they have subscribed so far are in therange of millions of euros. Most brokerage firms affiliated tointernational groups have received inquiries or orders to subscribein the Glencore IPO from clients.
"Yes. We did get subscriptionorders for the Glencore IPO and I can say that there's really a lotof interest in it. Local investors are probably looking at thequality of the company and the price or at the fact that the IPO isoversubscribed," said the boss of a major brokerage on the market.
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