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June 15, 2024
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Mineral exploration company Ivanhoe Electric files for $200M IPO – Seeking Alpha

Large yellow signboard on metal frame with the word IPO

ismagilov/iStock via Getty Images

ismagilov/iStock via Getty Images
Mineral exploration company Ivanhoe Electric (IE) has filed to raised up to $200M through an initial public offering.
The US-incorporated company with corporate offices in Canada said that it plans to list its shares on both the NYSE and Toronto exchanges. BMO Capital Markets and Jefferies are serving as lead bookrunners.
While Ivanhoe didn’t specify the number and pricing of shares to be offered, it indicated that it was looking to raise up to $200M, a number that was likely a placeholder and subject to change.
Ivanhoe said it plans to use proceeds from the deal to fund mineral exploration projects to identify ore deposits that can be developed into mines. The company has projects Arizona, Utah, Montana and the Ivory Coast. Ivanhoe also owns patents to an exploration technology known as Typhoon.
The mineral exploration company is currently operating in the red. For 2021, it reported a net loss of $59.3M on revenue of $4.7M.
For more IPO news, check out SA’s IPO News page.

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