Glencore, one of the world's largest mining and commodities trading companies, has set the price range per security ahead of an initial public offering at $7.90-9.60 valuing the company at about $61 billion, the company said on Wednesday.
Bank of America Merrill Lynch, which acts as a bookrunner for the deal, values it at $69.90 billion.
Trading will start on May 24 in London and on May 25 in Hong Kong.
Glencore said it expected to raise nearly $7.9 billion from selling new shares and $2.1 billion from a secondary share offer by existing shareholders.
Glencore has stakes in some of the world's leading commodity producers, including Russia's aluminum giant RusAl.
MOSCOW, May 4 (RIA Novosti)
