Commodity trader Glencore has confirmed the price of its bumper $11 billion market debut at 530 pence, in the middle of its initial range, a level it hopes will secure a strong performance on debut.

The final decision to price at 530 pence per share was in line with earlier market expectations.

At that price -- the exact midpoint of Glencore's original 480 to 580 pence range, but just below the middle of narrower guidance issued earlier this week -- the world's largest diversified commodities trader will be worth 36.7 billion pounds.

Glencore's offer has seen substantial interest from investors around the world and was significantly oversubscribed throughout the price range providing Glencore with a high quality, diverse and geographically spread investor base, Glencore's Chief Executive Ivan Glasenberg said in a statement on Thursday.

Glencore, which is also listing in Hong Kong, is in the final stage of the potentially record-breaking initial public offering of what would be a 16.4 percent stake, assuming no overallotment and no conversion of its convertible bonds.

But with a 10 percent overallotment option likely to take the total size of Glencore's offering to $11 billion, it is set to be London's largest-ever listing, overtaking Russia's Rosneft, which raised $10.6 billion in 2006.

Its market value will also propel the commodities trader straight into London's FTSE-100 index of bluechip shares.

(Reporting by Clara Ferreira-Marques; Editing by Julie Crust and Alexander Smith)