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Alwaleed, Kingdom invest $400 mln in Glencore IPO

Kingdom Holding investment represents 3.6 per cent in addition to existing share worth $600 million.

May 24, 2011 10:33 by

Saudi billionaire Prince Alwaleed and his investment firm Kingdom Holding invested $400 million in Glencore International’s initial public offering, the firm said on Monday.

“(The investment) represents 3.6 per cent of the value of shares offered, Kingdom Holding’s share is worth $60 million,” Kingdom said. (Reporting by Asma Alsharif; Editing by Dan Lalor)

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