Ivanhoe Electric sinks on day 2 after IPO

Ivanhoe Electric

29/06/2022 18:39

** U.S.-listed shares of Ivanhoe Electric Inc  IE.N  down
15.8% at $9.09, a day after copper miner's lackluster debut
    ** IE falls as low as $8.36 in early afternoon trade
    ** Stock closed down 8.1% at $10.80 on Tues after 14.4 mln
share IPO priced at $11.75, bottom of expectations  urn:newsml:reuters.com:*:nL1N2YF1FZ
    ** Copper futures  HGc1 , which have lost ~12% this month,
are hovering near 16-mth lows on heightened concerns of global
recession fears  urn:newsml:reuters.com:*:nL1N2YG0Q6
    ** Shares of TSX-listed copper producer Ivanhoe Mines
 IVN.TO  down ~2% on Weds, extending YTD loss to ~27%
    ** Veteran mining billionaire Robert Friedland backs Ivanhoe
Electric and is executive co-chairman of Ivanhoe Mines

 (Lance Tupper is a Reuters market analyst. The views expressed
are his own)
 ((lance.tupper@thomsonreuters.com
lance.tupper@tr.com 1-332-219-1430))