BAAR, SWITZERLAND — Glencore International AG, the world’s largest commodities trader, plans to raise as much as $11 billion from an initial public offering in London and Hong Kong, according to news reports.

Sources have said the company will announce a price range for the IPO on May 4. The IPO may raise $9 billion to $11 billion, Bloomberg reported on April 12.

A real estate investment trust controlled by Hong Kong billionaire Li Ka-shing received orders for all shares offered in a $1.7 billion IPO on the first day of the sale, Bloomberg reported.

Glencore may file a so-called intention to float document in London on April 14, said three people with knowledge of the sale, who declined to be identified because the plan is private.

Simon Buerk, a spokesman for Baar, Switzerland-based Glencore, declined to comment.

An IPO by Glencore, which changed its name from Marc Rich & Co. after management bought out former fugitive U.S. financier Marc Rich in 1994, would end more than three decades of being a closely held partnership.