Glencore issue $2.5 billion in shares, plans to cut debt by $10 billionStaff writer ▼ | September 7, 2015
Glencore announced a $10 billion packet of debt reduction measures. The company will issue up to $2.5 billion of new share, cut dividends, sell assets and look to offload a stake in its agricultural business to a third party.
Miner Bold measures from Glencore
The package of measures will reduce Glencore's net debt to around $20 billion from around $30 billion.
Glencore said the equity issuance would be supported by several members of the senior management team, including chief executive Ivan Glasenberg, who currently owns 8 per cent of the company. ■