Thursday 4 August 2011

GLENCORE 20% BELOW IPO PRICE

http://www.ft.com/cms/s/0/f416adee-bd9a-11e0-babc-00144feabdc0.html#axzz1TqowDXMe



Glencore International was the sharpest faller as evaporating confidence pulled the FTSE 100 to an eight-month low.

Shares in the commodities dealer lost 7 per cent to 426¼p, leaving them at a 20 per cent discount to the 530p flotation price.


More than 80 per cent of the stock is held by directors, employees and cornerstone investors unable to sell before November.

SAMEER SAYS

I TOLD YOU SO - GLENCORE IPO WAS A SIGN OF A COMING TOP IN THE MARKETS.

I THINK 2011 IS THAT YEAR - WHEN MKTS TOPPED GLOBALLY....

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