According to informed sources, Glencore Plc and Hillhouse Investment Management plan to invest in the upcoming Hong Kong initial public offering (IPO) of Chuangxin Industries Holdings Limited. The move signals strong confidence in the Chinese aluminum smelter's growth prospects amid a significant surge in aluminum prices.

The anonymous sources, who requested confidentiality due to undisclosed discussions, revealed that the Swiss commodities giant (Glencore) and the asset management firm (Hillhouse) intend to participate as cornerstone investors in the IPO. Cornerstone investors commit to holding shares for a specified period in exchange for guaranteed stock allocations.

The sources also noted that China Hongqiao Group Ltd., the country's largest private aluminum producer, will join as another cornerstone investor. Together, these three firms and other cornerstone investors may subscribe to approximately half of the total shares offered in the IPO.