IPO Price Range Values Glencore At $60 Bn

<?xml version="1.0" encoding="UTF-8"?><root available-locales="en_US," default-locale="en_US"><static-content language-id="en_US"><![CDATA[<p>Glencore said it would raise gross proceeds of approximately $10 billion from the IPO, confirming an earlier Reuters report.<br><br>Glencore, the world's largest diversified commodities trader, is expected to release its prospectus later on Wednesday. That will provide sought-after details including the cornerstone investors and the size of top management's stakes.<br><br>The long-awaited listing, which could be London's largest to date, will push Glencore into the public eye after 37 years, and will turn publicity-shy executives including chief executive Ivan Glasenberg, a former coal trader, into paper billionaires.<br><br>The company has priced its public offering at between 480 and 580 pence per share, valuing the company at $60 billion at the mid-point of the price range.<br><br>(Reuters)</p>