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24 May 2011
24/05/2011 The London Stock Exchange welcomes Glencore to the Main Market

Glencore International plc is a leading global integrated producer and marketer of commodities, with worldwide activities in the marketing of metals and minerals, energy products and agricultural products and the production, refinement, processing, storage and transport of these products.

Glencore successfully raised gross proceeds approximately US$10 billion, comprising a primary component of approximately US$7.9 billion, and secondary sales by existing shareholders of approximately US$2.1 billion, via the issue of 6,922,713,511 ordinary shares with a market capitalisation of approximately US$59.2 billion (£36.7 billion or HK$461 billion) at the offer price.  There is also an over-allotment option of up to 116,858,198 ordinary shares, representing 10% of the ordinary shares in the Global Offer exercisable for a period of 30 days from the commencement of conditional dealings on the London Stock Exchange.

glencore

Glencore believes the Global Offer will assist in positioning the company for the next stage of its development by increasing financial flexibility, providing further resources to invest in organic and acquisition growth, enhancing its the profile with existing and potential suppliers and customers, and providing it with a permanent equity capital base.

Glencore is the first company in 25 years, and only the third company ever, to enter the FTSE 100 at close of business on the first day of trading.

Ivan Glasenberg, Chief Executive of Glencore commented:  

“We are delighted that Glencore has joined the Main Market of the London Stock Exchange and gained entry into the FTSE 100. We look forward to building long-term mutually beneficial relationships with our new shareholders who are investing in Glencore through this listing.”

Citi and Morgan Stanley acted as the Joint Sponsors in relation to UK Admission, and together with Credit Suisse, are also the Joint Global Co-ordinators of the International Offer.  Deloitte LLP acted as Reporting Accountants and Linklaters LLP as legal adviser to Glencore.

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