Glencore steps up listing plans

SWISS commodities giant Glencore is pursuing plans to list its $1.2 billion worth of Australian coal assets, with the Australian Financial Review today reporting an initial public offering is slated for the third quarter of this year.

The paper said Credit Suisse First Boston and Deutsche Bank are pushing the proposal, with money raised earmarked to pay down parent company debt and pursue more acquisitions in the local coal

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