Glencore boss splashes out again

published 19 September 2011

Glencore chief executive Ivan Glasenberg has stayed true to his promise to buy more shares in the commodity trading house, splashing out £13.5m.

The purchase comes after Glencore announced on Friday that he had spent £10m on shares. On Friday, Glencore said that Glasenberg had told the company that he will seek to buy shares up to the value of about $54m ahead of 21 September, when a close period begins, meaning directors cannot buy shares.

In his purchase today, Glasenburg took 3m shares at 448.7p a time. In the purchase announced on Friday, he took 2.25m shares at an average price of 435p a share.