It is reported that Zijin Mining Group will subscribe to USD 100 million worth of Glencore's shares, becoming a cornerstone investor in the H share initial public offering of Glencore. The lock up period of the IPO shares is six months.

Glencore is one of the largest suppliers of commodities in the world. It is engaged in the production, refining, processing, warehousing, transportation and trading of metals, minerals, energy and agricultural products. In addition, Glencore provides financing, logistics and supply chain services to customers of its bulk cargo business.

Glencore holds a 34.5% stake in Xstrata, a 44% stake in Century Aluminum, a 70.6% in Minara Resources and a 74.4% in Katanga Mining.

According to Hong Kong media reports, Glencore will go public in London and Hong Kong at the same time and raise a total of USD 10 billion.

Glencore has already lined up 12 cornerstone investors, including the Abu Dhabi Sovereign Wealth Fund and the Government of Singapore Investment Corporation.