Massive Glencore IPO Values Commodity Giant Near $60 Billion (GS, BLK, UBS, CS)

Glencore's IPO is expected to be the mother of all IPO'S, as the company announced terms for its IPO this morning. The company said it would look to raise as much as $10 billion in the sale, which would value the Swiss commodity giant around $60 billion. The share price is going to be set at 480 to 580 pence per share for the IPO, which would value Glencore at $48-58 billion, said an anonymous source. Private equity, hedge funds, and sovereign wealth funds are getting in on the IPO, with Abu Dhabi's International Petroleum Investment Co being the largest investor. Government of Singapore Investment Corp, BlackRock Inc BLK, Credit Suisse CS and UBS UBS are also expected to take large stakes in the IPO. Abu Dhabi's International Petroleum Investment Co is going to take a stake worth $850 million according to Reuters, and the other 11 largest investors will own $3.1 billion of the IPO. According to the term sheet, Government of Singapore Investment Corp will invest $400 million, and BlackRock will buy $360 million. The investment bankers running the deal are likely to reap huge benefits from the fees from this IPO. On the flip side, there has been some concern however that the Glencore IPO could be a top in commodities.