Glencore is expected to be fast-tracked into the FTSE 100 Commodities trading giant Glencore has priced its shares in the middle of the indicated range at 530 pence each.
It values the company at £36.7bn. The listing is expected to raise about £6.8bn, making it London's largest initial public offering.
Conditional trading will begin in London on Thursday, with full trading starting on Tuesday.
Glencore is also selling shares in Hong Kong, which have been priced at 66.53 Hong Kong dollars per share.
The company is expected to be fast-tracked into the FTSE 100 index at the end of its first day of full trading on 24 May.
Glencore's directors and employees still hold about 83.1% of the company, making them extremely wealthy on paper.
Chief executive Ivan Glasenberg, the largest shareholder with about 18% of the company, will be worth about £6bn, making him one of the world's richest men.
"Glencore's offer has seen substantial interest from investors around the world and was significantly oversubscribed throughout the price range providing Glencore with a high quality, diverse and geographically spread investor base," he said in a statement to the London Stock Exchange.
This article is from the BBC News website. � British Broadcasting Corporation, The BBC is not responsible for the content of external internet sites.
Source: http://www.bbc.co.uk/go/rss/int/news/-/news/business-13451081
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