We use cookies to provide you with a better experience. If you continue to use this site, we'll assume you're happy with this. Alternatively, click here to find out how to manage these cookies

hide cookie message
RSS FeedFinancial Planning

Glencore CEO buys £10m shares


Ivan Glansberg of newly-public commodities trading giant increases his shareholding

Article comments

Glencore chief executive Ivan Glansberg bought £10 million worth of shares in his own company, according to a regulatory filing made on Friday.

The Swiss commodities trading giant’s boss has increased his stake in the newly-listed company to just less than 16 percent.

Glencore went public in London in May in what was one of the largest initial public offering ever seen in Europe. Its offer price was 530 pence per share but its stock has been “under water” ever since its debut.

Just before midday on Friday, the stock was trading at 450 pence, 15 percent below the offer price but up 2.9 percent on the day as the mining sector benefited from a broadly higher market.

According to the regulatory filing, Glasenberg bought 2.25 million shares on Thursday at 435 pence each. At current share prices, Glasenberg’s shareholding in the group is worth around £4.9 billion.

He said last month that Glencore’s sheet has never been stronger and that it is well placed to take advantage of uncertainty in global markets. The group posted a net earnings increase of 57 percent for the first half of the year.

Share:

Recommended Articles

Comments

Glencore CEO buys £10m shares
Financial Planning

Could CFOs do more to boost shareholder value?

Could CFOs do more to boost shareholder value?

Working capital improvements start to pay off, but more could be donemore ..


Amazon slashes Fire Phone price ahead of iPhone 6 launch

Amazon today slashed the price of its three-month-old Fire Phone to 99 cents, an obvious bid to boost slow sales.more ..

Betfair mobile revenues spike during 'record' quarter

App use grows by 162 percent during World Cup periodmore ..

Samsung acquires cloud printing company PrinterOn

The acquisition aims to boost Samsung's business-to-business mobile offeringsmore ..

Can finance rise to the challenge of major transformation?

Outdated finance processes, systems and competencies leave too many questions unansweredmore ..

Budget: What business wants

CFOs are keen for the chancellor to avoid any uncertaintymore ..

Send to a friend

Email this article to a friend or colleague:


PLEASE NOTE: Your name is used only to let the recipient know who sent the story, and in case of transmission error. Both your name and the recipient's name and address will not be used for any other purpose.



In Depth
Can finance rise to the challenge of major transformation?

Can finance rise to the challenge of major transformation?

Outdated finance processes, systems and competencies leave too many questions unanswered more ..

In Depth
Interim CFO or consultant? The pros and cons

Interim CFO or consultant? The pros and cons

Ed Harding offers an insight into the life of an interim CFO and the advantages in driving transformation more ..

Advertisement

* *