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

OceanaGold Corp ( OCANF ) said on Wednesday it will raise 6.08

billion pesos ($106 million) through an initial public offering

(IPO) of its Philippine unit, the first listing in the Southeast

Asian nation in 2024.

In a disclosure, OceanaGold Philippines Inc said it had

priced its IPO at 13.33 pesos ($0.2326) per share, a discount of

23% to a maximum potential price of 17.28 pesos included in the

filing to securities regulators.

"The deal was supported by foreign and local investors,"

Eduardo Francisco, president of BDO Capital, the IPO's

underwriter. "It is a big discount which will give good dividend

yield and upside to investors."

OceanaGold ( OCANF ) plans to sell up to 456 million common shares or

a 20% stake in OceanaGold Philippines, which would give the unit

a market capitalisation of 30.39 billion pesos.

The offer period will run from April 29 to May 6 and the

listing is set for May 13, OceanaGold ( OCANF ) 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.

The Philippines is seeking to revitalise its mining sector

to boost the economy. It is a major nickel ore supplier to top

metals consumer China, and also has substantial copper and gold

reserves.

OceanaGold's ( OCANF ) Didipio mine started commercial operations in

2013 and has a mine life of up to 2035. It held 1.1 million

ounces of gold and 140,000 tonnes of copper as of end-2023, with

opportunities to increase output through exploration.

($1 = 57.32 Philippine pesos)