Saturday, May 7, 2011

Glencore Bosses' Payday: $23 Billion

Saturday, May 7, 2011

LONDON—Glencore International AG, the private Swiss commodities trader, pulled back its veil further Wednesday as it prepares to enter the public markets, giving investors a clearer indication of the company's value—and the $23 billion combined stake that will be owned by its top five executives, including Chief Executive Ivan Glasenberg.

Glencore, which three weeks ago announced its intention to go public, on Wednesday provided prospective investors with a trove of new information. The company indicated that at the midpoint of its estimated valuation range it would be worth about $61 billion, including the issuance of new shares.

Earlier figures released ...

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