Toronto-listed OceanaGold prices Philippine unit's IPO

OceanaGold

24/04/2024 02:30

MANILA, April 24 (Reuters) - Toronto-listed miner
OceanaGold Corp  OGC.TO  said it has priced the initial public
offering (IPO) of its Philippine unit at 13.33 pesos ($0.2326)
per share on Wednesday.
    In a disclosure to the stock exchange, OceanaGold said it
will sell up to 456 million shares or a 20% stake in OceanaGold
Philippines Inc worth 6.078 billion pesos ($106 million).
    At the offer price, OceanaGold Philippines secures a market
value of 30.39 billion pesos in the IPO, the Philippines' first
listing for 2024.
    The offer period will run from April 29 to May 6 and the 
listing is set for May 13, OceanaGold said in its preliminary
IPO notice. It is running the IPO to comply with a regulatory
requirement for its gold and copper mine in the northern
Philippines.

($1 = 57.32 Philippine pesos)

 (Reporting by Neil Jerome Morales; Editing by John Mair)
 ((neiljerome.morales@thomsonreuters.com))