Glencore's IPO is expected in May

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The Independent Online

Leading fund managers expect Glencore to proceed with its listing plans in May, according to a new survey.

A Reuters poll of 10 fund managers at investment houses that, between them, control global assets of $3trn (£1.8trn), showed that most were anticipating an announcement before the summer. Only two managers viewed the recent market volatility caused by the turmoil in Libya and the earthquake in Japan to pose a serious threat to the commodity trader's expected timetable for a listing.

Separately, new reports suggested that top Glencore managers, including chief executive Ivan Glasenberg, were out in New York to meet with leading US fund managers ahead of a possible IPO, which is expected to be one of the biggest of 2011.

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