Glencore Said to Receive IPO Orders for Double $11 Billion Shares on Offer

Glencore jaw crusher curve diagram pex 250 x 1000International Plc received enough demand from investors for its $11 billion initial public offering to sell the shares more than twice over, according to three people with knowledge of the matter.

Highbridge Capital Management LLC, a hedge fund owned by JPMorgan Chase & Co., proposed a $500 million investment, said one of the people, who declined to be identified because the information isn’t yet public. The last orders for the offer are due on May 18, with final pricing to be disclosed the following day, according to a term sheet for the sale. Demand for stock in the world’s largest commodities trader weathered a rout in raw materials prices last week, the biggest in two years, which wiped out $99 billion of market value. The IPO, the largest since General Motors Co. sold stock in November, will give Glencore a value of...