Commodity trader has slumped to a record low,prompting share placing that will see chief executive put up as much as $210m of his own cashThe embattled commodity trader Glencore launched its $2.5bn (£1.6bn) fundraising effort on Tuesday night, in a trudge aimed at shoring up its strained finances as swiftly as possible.
The share placing, or allotment of a $10.2bn programme of fundraising and cuts announced last week,came in a week when Glencore’s struggling shares hit original lows. It will see the company’s billionaire chief executive, Ivan Glasenberg, or putting up as much as $210m of his own cash. Related: Glencore first-half profit tumbles amid commodities rout Continue reading...
Source: theguardian.com