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Glencore plans to sell assets, shares to trim its US$30b debt by a third

Firm also will suspend dividend payments until further notice; shares rise as much as 13%, a record intraday gain

Glencore Plc plunged as much as 31 per cent, extending a rout that's wiped more than US$14 billion off its value this month and highlighting investor concerns that it's not cutting its debt load quick enough.


GLENCORE Plc, the commodity producer and trader, plans to sell assets and shares to cut its US$30 billion net debt by about a third following the rout in global markets.

Baar, Switzerland-based Glencore, which last week posted its biggest weekly decline in London since