COMMODITIES trading giant Glencore valued itself at about £36.5bn as it unveiled further details of the UK’s largest ever stock flotation.

The planned listing will propel Glencore into the FTSE 100 Index and is set to raise about £6.1bn for the Swiss-based company.

Glencore also confirmed 31% of the shares offer will go to a select group of cornerstone investors – understood to include Arab emirate Abu Dhabi – while the move is also expected to create nearly 500 paper multi-millionaires, including chief executive and largest shareholder Ivan Glasenberg.

Glencore, which deals with metals, minerals, energy and agricultural products, confirmed the price range for the initial public offering will be between 480p and 580p per share. This values the company at £36.5bn.