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Openness will be new commodity for firm

Glencore, the notoriously shy commodities giant, is to launch on the London Stock Exchange to the tune of $61bn (£36.5bn).

It's more than likely going to march straight into the FTSE 100 without a blink of an eye and will make billionaires out of a number of its directors and millionaires of numerous others within the company.

You have to question whether these incredibly wealthy people will stay on at the company after the flotation, and it will be interesting to see the directors' shareholding announcements in the first few months to see how many decide to cash in their paper chips.

Having to declare their every move to shareholders and to us will be a new experience for a company which has always kept itself to itself in the notoriously murky world of commodities.

There's no doubt you'll have come across some of its products, probably unknowingly. It is one of the world's largest traders of copper, aluminium, wheat, sugar, coffee and cocoa while also accounting for 3% of the world's oil trade. If you haven't heard of Glencore before, get ready to.


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