Via ANCAPS: After $10 Billion I.P.O., Glencore Shares Rise

Shares in Glencore, the Swiss commodities trader and producer, rose on their first day of trading in London on Thursday following a $10 billion initial public offering, the biggest so far this year.

Glencore sold 1.14 billion shares at £5.30, or $8.60, each, the company said in a statement. Investors include BlackRock, JPMorgan and the sovereign wealth fund of Abu Dhabi. Glencore chief executive Ivan Glasenberg remains the company’s single largest shareholder with a 15.7 percent stake in the company.

The share price was set at the middle of the price range, which was announced earlier this month, and values the entire company at $59.2 billion.

Glencore’s shares were also sold on the stock exchange in Hong Kong. Demand for the shares ‘‘significantly’’ exceeded the amount available, Mr. Glasenberg said.

‘‘We welcome and look forward to building long-term mutually beneficial relationships with our new shareholders, as we have with our customers, suppliers and capital partners over the years,’’ Mr. Glasenberg said.

In going public, Glencore is giving up some of the secrecy that analysts say has helped it become one of the biggest traders of physical commodities, with operations in more than 40 countries, in order to better finance its future growth. The share sale provides Glencore with cash as well as publicly traded shares it can use to pay for acquisitions.

Glencore was founded in 1974 by Marc Rich, an oil trader who later fled the United States for Switzerland because of tax evasion charges. Mr. Rich sold the company to a group of managers, including Mr. Glasenberg, in 1993 for about $600 million.

ANCAPS: ANARCHO-CAPITALISTS

Via ANCAPS: After $10 Billion I.P.O., Glencore Shares Rise

Via ANCAPS: After $10 Billion I.P.O., Glencore Shares Rise

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