This article is from the source 'bbc' and was first published or seen on . It last changed over 40 days ago and won't be checked again for changes.

You can find the current article at its original source at http://www.bbc.co.uk/go/rss/int/news/-/news/business-13451081

The article has changed 4 times. There is an RSS feed of changes available.

Version 1 Version 2
Glencore's shares rise in London trading Glencore's shares rise in London trading
(about 3 hours later)
Shares in commodities trading giant Glencore have risen in early conditional trading on the London Stock Exchange.Shares in commodities trading giant Glencore have risen in early conditional trading on the London Stock Exchange.
They were priced at 530p each and jumped to 548p shortly after the market opened. The shares later fell back to trade at 534.75p. They were priced at 530p each and jumped to 548p shortly after the market opened. The shares later fell back to trade at 541p.
Full trading will begin on Tuesday.Full trading will begin on Tuesday.
The share offering valued the company at £36.7bn. It was expected to raise about £6.8bn, making it London's largest initial public offering.The share offering valued the company at £36.7bn. It was expected to raise about £6.8bn, making it London's largest initial public offering.
Glencore is also selling shares in Hong Kong, which have been priced at 66.53 Hong Kong dollars per share.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. 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. It is only the third time that has happened in the index's history.
Glencore's directors and employees still hold about 83.1% of the company, making them extremely wealthy on paper.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.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."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.
Secretive
The initial offering was only for institutions, so retail investors will not get a chance to buy into Glencore until Tuesday.
Retail investors will be scrutinising Glencore's prospectus to find out more about what has until recently been a relatively secretive company.
The prospectus gives details of the company's activities in countries such as Colombia, Democratic Republic of Congo and Equatorial Guinea, which have attracted controversy in the past.
It also describes pending litigation, including the forthcoming trial of a former employee and a current employee, charged in Belgium with having, "committed corruption in exchange for information covered by professional secrecy", in a case relating to the leaking of details of European agricultural quotas.
Former BP boss Lord Browne withdrew from a decision to become Glencore's chairman at the last minute, a move which was attributed to his concerns about transparency.