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A $300m Toronto Stock Exchange IPO for Friedland's Ivanplats
Uber mining promoter Robert Friedland plans to take his Ivanplats Ltd. public in an IPO that could be the biggest on the Toronto Stock Exchange this year.
The IPO aims to raise money for three mining projects primarily in South Africa and the Democratic Republic of the Congo, where privately owned Ivanplats is focused on exploration and development of major copper, platinum, gold, nickel and zinc deposits, mineWeb reports.
The company controls the Platreef platinum and nickel project in the Bushveld mining complex, as well as the Kamoa copper project in Congo, which is located west of the Kolwea district of the Central African Copperbelt. Friedland said Kamoa - which was discovered by Ivanplats in 2008 - is "the project that we think will set the mark for the rebirth of the mining industry in the Congo."
According to mineWeb, the Financial Post reported that the IPO will seek at least $300 million and is expected to raise millions of dollars to keep the projects moving forward. The underwriters on the deal are BMO Nesbitt Burns, Morgan Stanley Canada, Macquarie Capital Markets and RBC Dominion Securities.
Read the full article on www.mineweb.com
