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Ivanhoe to raise C$500m through private placement

Ivanhoe Mines' Robert Friedland

Ivanhoe Mines' Robert Friedland

13th December 2023

By: Darren Parker

Deputy Editor Online

     

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Copper and platinum group metals mining company Ivanhoe Mines has engaged investment banking firm BMO Capital Markets as the sole agent in connection with a proposed offering of about 41.6-million Class A common shares on a private placement basis for C$12 a share. 

The company is aiming to raise proceeds of about C$500-million. 

Ivanhoe expects to grant BMO Capital Markets an option to place an additional 15% of the number of common shares bought pursuant to the offering. 

The offering is expected to close on December 18. 

The net proceeds of the offering will be used to fund exploration, working capital and general corporate purposes, Ivanhoe said on December 13. 

Edited by Chanel de Bruyn
Creamer Media Online Managing Editor

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