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16 May 2011 |
Justin Urquhart Stewart is one of the most recognisable and trusted market commentators on television, radio, and in the press. Originally trained as a lawyer, he has observed the retail market industry for 20 years whilst at Barclays Stockbrokers and developed a unique understanding of the market's roles and benefits for the private investor.
Justin Urquhart Stewart is one of the most recognisable and trusted market commentators on television, radio, and in the press. Originally trained as a lawyer, he has observed the retail market industry for 20 years whilst at Barclays Stockbrokers and developed a unique understanding of the market's roles and benefits for the private investor. Justin provides financial advice to clients of Kester Cunningham John Financial Planning LLP.
After the concerns of the commodity fest we have been living through, it seems that further enthusiasm is now being added. The 24th May will be Glencore day in the FTSE 100. The flotation of this commodity leviathan will give it an estimated value of between $48bn and $58bn which is the equivalent of between 1.7% and 2.1% of the value of the entire Index (final pricing is expected on 19th May). London will be the primary listing, with a secondary issue in Hong Kong. The company is being fast tracked directly into the FTSE 100 and the last time that happened was back in 1986 when BG Group floated; prior to that was BT in 1984.
The estimated free float of the stock of the company will likely be around |
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