Investor body in talks with Glencore on $2.5 billion placing - Sky News

(Reuters) - Mining and trading group Glencore Plc has been holding talks with investor trade body Investment Association related to the company's recent $2.5 billion (£1.6 billion) equity placing, Sky News reported. Sky News reported that a meeting took place between the company's secretary John Burton and Investment Association - whose members manage about 5.5 trillion pounds of clients' assets. A spokesman for Investment Association confirmed to Reuters that the trade body was in talks with Glencore, but did not divulge any further details. Glencore declined to comment. Some investors, including Investment Association, have criticised the way in which Glencore recently raised $2.5 billion, saying that the miner had breached shareholder protection principles. Glencore shares fell to a record low on Monday over concerns it was not doing enough to cut its debt to withstand a prolonged fall in global metals prices. Sky News also reported that the meeting was attended by a senior banker from Citi, one of Glencore's financial advisers. (Reporting by Rahul B and Roshni Menon in Bengaluru)