Glencore is advised to prepare for a delisting after a record fall of shares
Edited by Rhod Mackenzie / 2015-10-01 01:38:03
The value of shares of Glencore after the fall on September 28, 2015 to the historical minimum of 67.34 cents/share on Thursday morning have significantly recovered and returned to the level of last Friday to 98.9 cents/share.
Analysts connect this fall with a continual price fall in the raw materials markets and the company’s weak financial state: on the results of H1 2015 the corrected EBITDA fell by 29% to $4.611 bln, net profit fell by 56% to $0.9 bln while the debt fell by 3% only and makes up $29.6 bln.
According to RBC, Citi bank said that the sale of papers was excessive and the company should hold a delisting if the market doesn’t assess it fairly.
