Ivanplats Completes $300 Million Initial Public Offering
|Areas||Corporate Finance and Securities, Mining and Natural Resources, Tax|
Goodmans represented Ivanplats Limited (Ivanplats) in connection with the completion of its initial public offering of 63,327,000 Class A common shares at a price of $4.75 (US$4.85) per share for gross proceeds of approximately $300 million (US$307 million) on October 23, 2012. Ivanplats is a Canadian mining company focused on the exploration and development of major copper, platinum, gold, nickel and zinc project, primarily on the African continent.
The syndicate of underwriters for the IPO was led by BMO Capital Markets and Morgan Stanley Canada Limited and included Macquarie Capital Markets Canada Ltd., RBC Dominion Securities Inc., CIBC World Markets Inc., Citigroup Global Markets Canada Inc., Renaissance Securities (Cyprus) Limited and UBS Securities Canada Inc.
Ivanplats granted the underwriters an over-allotment option to purchase up to an additional 15% of the aggregate number of Class A common shares issued at the closing at a price of $4.75 per share. If the over-allotment option is exercised in full, the total gross proceeds to the company will be $346 million (US$354 million).