Glencore launches $2.5 bln share placement

September 15, 2015 4:26 PM

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LONDON, Sept 15 British mining and trading company Glencore said on Tuesday that it had launched a share placement representing almost 10 percent of its issued share capital, as part of a raft of previously announced plans to cut debt.

The firm said it would place up to 1.31 billion new shares, representing 9.99 percent of its share capital. The majority of those shares will be sold via accelerated bookbuild, with the remaining 22 percent taken up by management, it said in a statement.

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