Neptune's Robin Geffen has warned investors against piling into Glencore despite a positive reaction from markets on its first full of trading.
Shares in the commodities trader rose more than 2% by midday, up 12.5p to 526.5p on its first day of trading on the main market, outperforming the wider market. However, despite the gains, stars including Geffen and LVAM’s Graham Ashby have ruled out investing at this level. Speaking to Investment Week on Friday, Geffen, founder and CIO at Neptune, said Glencore’s IPO price is ‘too high’ and urged investors to tread carefully when it comes to new listings. “Investors should not get caught up with the hype. Everyone should set a price for the company and have the discipline to step ...
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