Glencore announces flotation

Glencore announces flotationThe largest commodities trader in the world, Glencore, has announced that it values its impending flotation at about $61 billion.  Shares will be offered at between 480p and 580p.  The firm’s CEO, Ivan Glasenberg, will become one of the world’s richest men with his 18% stake, and several other key executives are set to boost their net worths by the hundreds of millions.  They will not be able to sell their shares for at least 5 years.  Abu Dhabi company Aabar Investments, a division of the government’s petroleum company, is set to be the biggest outside investor.

Glencore trades mainly in metals and minerals, and has seen increased profits due to increased demand from China for these commodities.  The company has a reputation for being relatively secretive, so their prospectus on the flotation that is due soon is highly anticipated by investors.  They posted $3.5 billion in profits last year.

 

 



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The largest commodities trader in the world, Glencore, has announced that it values its impending flotation at about $61 billion.  Shares will be offered at between 480p and 580p.  The firm’s CEO, Ivan Glasenberg, will become one of the world’s richest men with his 18% stake, and several other key executives are set to boost their net worths by the hundreds of millions.  They will not be able to sell their shares for at least 5 years.  Abu Dhabi company Aabar Investments, a division of the government’s petroleum company, is set to be the biggest outside investor. Glencore trades mainly...

Glencore announces flotationThe largest commodities trader in the world, Glencore, has announced that it values its impending flotation at about $61 billion.  Shares will be offered at between 480p and 580p.  The firm’s CEO, Ivan Glasenberg, will become one of the world’s richest men with his 18% stake, and several other key executives are set to boost their net worths by the hundreds of millions.  They will not be able to sell their shares for at least 5 years.  Abu Dhabi company Aabar Investments, a division of the government’s petroleum company, is set to be the biggest outside investor.

Glencore trades mainly in metals and minerals, and has seen increased profits due to increased demand from China for these commodities.  The company has a reputation for being relatively secretive, so their prospectus on the flotation that is due soon is highly anticipated by investors.  They posted $3.5 billion in profits last year.

 

 



Support ASEAN news

Investvine has been a consistent voice in ASEAN news for more than a decade. From breaking news to exclusive interviews with key ASEAN leaders, we have brought you factual and engaging reports – the stories that matter, free of charge.

Like many news organisations, we are striving to survive in an age of reduced advertising and biased journalism. Our mission is to rise above today’s challenges and chart tomorrow’s world with clear, dependable reporting.

Support us now with a donation of your choosing. Your contribution will help us shine a light on important ASEAN stories, reach more people and lift the manifold voices of this dynamic, influential region.

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