Trafigura mulls a £1bn UK flotation

TRAFIGURA, the Switzerland-based oil trader, has not ruled out the possibility of a £1bn flotation of its industrial assets.

A flotation in the UK would represent a change of direction for the commodities company, which never publishes financial details except to bondholders and other interested parties.

Trafigura will spin off its industrial assets but will never float its core physical trading business, the company said.

The trading company caused controversy last year when it enforced a legal injunction on the Guardian newspaper, preventing it from reporting remarks made in Parliament about its waste dumping practices in the Ivory Coast.