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Toronto-listed OceanaGold prices Philippine unit's IPO

Reuters
·1-min read

MANILA, April 24 (Reuters) - Toronto-listed miner OceanaGold Corp 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)