Linklaters and Clifford Chance (CC) are in line to take lead roles on commodities trader Glencore’s planned initial public offering (IPO), which is set to value the company at around $60bn ($36.7bn).

The offering, likely to become the largest ever in London, will see the Swiss-based company sell a 20% stake worth between $10bn (£6.1bn) and $12bn (£7.3bn).