Glencore: The Secret Commodity Empire Goes Public
For decades, the world’s largest commodity trading company operated in near-total secrecy. No public filings. No shareholders to answer to. No journalists poking around. Then on May 19, 2011, Glencore listed on the London Stock Exchange and raised $12 billion in one of the biggest IPOs in history. Chapter 38 of Torsten Dennin’s “From Tulips to Bitcoins” tells the story of how a fugitive’s private empire became a public company. And how the insiders who sold their shares at the top never saw that price again.