Key facts
- Silver miner Sinda has launched its U.S. initial public offering roadshow.
- The company is targeting a valuation of up to $1.97 billion.
- Sinda aims to sell 17.75 million shares at a price range of $11.25 to $13.25 per share.
- The IPO is expected to raise up to $235.2 million.
- Sinda's shares are slated to trade on the NYSE under the ticker "SIND".
Silver miner Sinda commenced its U.S. initial public offering roadshow on Monday, aiming to achieve a valuation of up to $1.97 billion. The company intends to offer 17.75 million shares within a price range of $11.25 to $13.25 each, potentially raising as much as $235.2 million.
This move contributes to a busy summer for new stock market listings, with other companies like Uber-backed Lime and Oaktree-backed ITG also launching their IPOs on the same day. The increase in new stock offerings this year is attributed to favorable equity market conditions and improved investor sentiment.
Sinda, a portfolio company of The Electrum Group, focuses on developing the Sinda Property in Guanajuato, Mexico, which it describes as a large primary silver deposit with the potential for global significance. The company highlighted the rarity of such primary silver assets, noting that only about 26% of global mined silver supply is projected to come from primary silver mines in 2025.
Elevated commodity prices have benefited mining companies, with silver prices climbing over the past year due to investor demand for precious metals and strong industrial use in solar panels and electronics. Following the IPO, Sinda's shares are expected to be listed on the New York Stock Exchange under the ticker symbol "SIND". Morgan Stanley, Scotiabank, and BMO Capital Markets are serving as the lead underwriters for the offering.