NEW YORK ( TheStreet) -- Most U.S. retail investors may be blissfully unaware of the fact, but the imminent public offering of Swiss commodities behemoth Glencore International AG is one of the most hotly-anticipated deals on Wall Street at the moment.
Many observers are comparing Glencore to Goldman Sachs (GS). Both firms are huge, intensely secretive and powerful, and populated by world-class trading talent. Both spent decades building themselves into leaders in their respective industries before eventually taking themselves public.
In the latest blow to the pride of those Americans who like to think of their country as the center of the financial universe, Glencore's IPO will list in London and Hong Kong, according to a company announcement Thursday. The listing is expected to value the company at $60 billion, but it will only be raising $10 billion to $12 billion.
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