Glencore closes book early as investors flock to IPO

Glencore International has closed its books a day early after its initial 530p per share offer garnered strong investor demand.

The price per share is in the middle of the 480p - 580p the commodities giant had previously announced, and values the business at £36bn in London's largest ever flotation, the Telegraph reports. Investor demand for the shares had been very high, despite the recent fall in commodity prices during the firm's listing process. Glencore's underwriting bankers garnered enough investor interest to cover its offer within hours of selling on Monday night. As a result, potential investors who have price limits below 530p will likely miss out on buying Glencore shares. The firm is also po...