Glencore LSE History and Financial Overview

Glencore has a rich history on the London Stock Exchange (LSE) that dates back to 2011 when it was admitted to the exchange.

The company was initially listed as a mining and commodities trading company under the ticker symbol GLEN.

Glencore's listing on the LSE marked a significant milestone in the company's growth and expansion plans.

Glencore's market capitalization was around £25 billion at the time of its listing, making it one of the largest companies to join the LSE in recent history.

A different take: Glencore Share Price Forecast

Glencore's history is a fascinating story. The company was founded in 1974 as Marc Rich & Co. AG by commodity traders Marc Rich and Pincus Green.

Marc Rich & Co. AG was a successful trading company, but in 1993, a group of employees led by Claude Dauphin left to set up Trafigura. This marked a significant turning point for the company.

In 1994, Marc Rich was forced to sell his majority share in the company to Glencore International, the commodities trading and industrial company, after losing $172 million in the zinc market.

Glencore's name is an abbreviation of "Global Energy Commodity Resources", a fitting name given the company's focus on commodities trading.

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Glencore's financial performance has been impressive, with the company reporting a net income of $4.4 billion in 2020.

The company's revenue has consistently increased over the years, reaching $235.5 billion in 2020.

Glencore's strong financial performance can be attributed to its diversified portfolio of commodities, including copper, zinc, and nickel.

A unique perspective: Glencore in the News

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If a company has underperformed its peers on annual average total returns in the past 5 years, it's likely a sign that the stock may not be the best investment choice.

The company's below median total returns compared to its peers can be a red flag, indicating that its financial performance is not as strong as others in the same sector.

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In the past 5 years, this company has shown below median risk adjusted returns in its peers, making its financial performance even more concerning.

Even if a company is outperforming on returns, unpredictable results can be just as bad as underperforming, and it's essential to proceed with caution.

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Glencore's initial public offering (IPO) in May 2011 was a significant event, with the company raising gross proceeds of around $10 billion.

The IPO was valued at about $US60 billion and involved a dual listing in London and Hong Kong. Aabar Investments, a unit of Abu Dhabi's state-owned United Arab Emirates International Petroleum Investment Company, invested $1 billion in Glencore's IPO, but wrote off more than $392 million of it less than two years later.

Glencore's IPO diluted the shareholdings of key executives, including Ivan Glasenberg's 18.1% stake, which decreased to 15.8% after the IPO.

Aabar Investments became the largest new shareholder of Glencore after the IPO, with a 1.4% stake, after investing $850 million in the company.

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Tesla's supply contract with Glencore was a significant move, as it secured the future supply of cobalt for their lithium-ion batteries.

In June 2020, Tesla partnered with Glencore, a year after BMW did the same. This contract boosted cobalt prospects significantly, according to industry experts.

Tesla initially wanted to eliminate cobalt from their battery formula, but ultimately decided to continue using it, which had a positive impact on the cobalt market.