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GLEN Glencore Plc

474.30
-0.70 (-0.15%)
19 Apr 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Glencore Plc LSE:GLEN London Ordinary Share JE00B4T3BW64 ORD USD0.01
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -0.70 -0.15% 474.30 475.65 475.75 478.40 467.90 473.80 84,818,440 16:35:15
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Nonmetallic Mineral Pds, Nec 217.83B 4.28B 0.3508 13.56 58.04B

Glencore to Convert Rusal Holding into En+ Shares After London Listing

18/10/2017 6:36pm

Dow Jones News


Glencore (LSE:GLEN)
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By Adam Clark

 

Glencore PLC (GLEN.LN) will convert its shareholding in Russian aluminum company UC Rusal into shares of its major shareholder, En+ Group, following its initial public offering on the London and Moscow stock exchanges.

Commodities company Glencore has an 8.8% shareholding in UC Rusal, which will be converted into global depositary receipts representing En+ shares, after their IPO. En+ has previously announced its intention to list on the London and Moscow markets in November, raising up to $1.50 billion.

En+ noted the conversion will take its own shareholding in Rusal to 57% from 48%. The transaction will also allow Glencore to appoint a representative to En+'s board of directors.

Shares in Glencore closed down 1.2 pence at 374.65 pence on Wednesday.

 

Write to Adam Clark at adam.clark@dowjones.com

 

(END) Dow Jones Newswires

October 18, 2017 13:21 ET (17:21 GMT)

Copyright (c) 2017 Dow Jones & Company, Inc.

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