off-the-wire

Silver miner Sinda raises $213 million in US IPO

Kitco Media
By Reuters
Published:
Updated:
Reuters
Silver miner Sinda raises $213 million in US IPO teaser image

June 26 (Reuters) - Sinda said late on Thursday it had raised $213 ​million in its U.S. ‌initial public offering, becoming the latest silver miner to ​tap the new listings ​market this month.

The company sold ⁠17.75 million shares in ​the IPO at $12 apiece, ​compared with the marketed range of $11.25 to $13.25 apiece.

Sinda is a portfolio company ​of The Electrum Group, ​a natural resources-focused investment firm led ‌by ⁠prominent metals investor Thomas Kaplan.

Sunshine Silver Mining & Refining Company (SSMR.N), opens new tab, another miner backed by ​The ​Electrum ⁠Group, went public in New York earlier this ​month.

Sinda is expected to ​begin ⁠trading on the New York Stock Exchange under ⁠the ​ticker symbol "SIND" on ​Friday.

Reporting by Arasu Kannagi Basil in ​Bengaluru; Editing by Shreya Biswas

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.