May 25, 2011 / 1:31 AM / 9 years ago

Glencore's Hong Kong shares down 2.8 pct on trading debut

HONG KONG, May 25 (Reuters) - Shares in Glencore International Plc fell 2.8 percent ahead of their Hong Kong trading debut on Wednesday, tracking a lower start in London the previous day.

By 0121 GMT, Glencore shares were trading at HK$64.65 compared with the offer price of HK$66.53 each. Last week, Glencore raised $10 billion through a London and Hong Kong initial public offering, giving the Swiss commodities trader the firepower for acquisitions.

Glencore’s London-listed shares were stuck under water on their first day on Tuesday, dashing hopes of a strong start after it set a mid-range flotation price for London’s largest-ever offering. [ID:nLDE74N0EO] (Reporting by Denny Thomas and Elzio Barreto; Editing by Chris Lewis)

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