Glencore's HK exit sends message to Aramco
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GLENCORE'S departure from Hong Kong is a reminder of the futility of extra listings. Coach, Japan's Fast Retailing and others could be forgiven for following the Swiss mining and commodities trading group off the island. It's also a sign that Saudi Aramco can cross Hong Kong off its list.
When boss Ivan Glasenberg took Glencore public in 2011, it was the first to twin a primary listing in London with a secondary one in Hong Kong. The idea was to attract a broader range of Asian investors.
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