Glencore and Hillhouse to Invest in Chuangxin Industries' IPO
TL;DR: Glencore and Hillhouse plan to invest in the IPO of Chuangxin Industries, a Chinese aluminum smelter, as cornerstone investors. This move highlights confidence in the company amidst rising aluminum prices, although the exact investment amounts and valuation are not public.
Key takeaways
- Glencore Plc and Hillhouse Investment Management intend to participate as cornerstone investors in the forthcoming Hong Kong initial public offering of Chuangxin Industries Holdings Ltd
- This investment reflects confidence in the Chinese aluminum smelter, particularly given the current surge in aluminum prices
- Specific details concerning the investment amounts and the company's valuation remain undisclosed
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