Glencore raises $2.5 billion in share placement - CNBC Africa

Glencore raises $2.5 billion in share placement

Mining

by Reuters 0

Glencore raises $2.5 billion in share placement. PHOTO: Reuters

Mining and trading group Glencore said on Wednesday it has raised US 2.5 billion dollars through a share placement as part of its plans to cut debt.

The London-listed company said on Tuesday that it planned to place up to 1.31 billion new shares, representing 9.99 percent of its share capital.

The sale was priced at 125 pence a share, the company said on Wednesday.

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