Glencore Shares Stick to Offer Price After $10 Billion IPO

Glencore International Plc, the commodities company that sold $10 billion of stock in the world’s biggest initial share sale this year, ended its first trading day in London at the same price offered to investors.

Shares in Baar, Switzerland-based Glencore closed at 530 pence, giving the company a market value of 36.5 billion pounds ($59 billion). They earlier rose as much as 3.8 percent to 550 pence and never traded below the offer price. More than 550 million shares were traded during the day.