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Toronto-listed OceanaGold prices Philippine unit's IPO
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Toronto-listed OceanaGold prices Philippine unit's IPO
Apr 23, 2024 7:06 PM

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

OceanaGold Corp ( OCANF ) 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 ( OCANF ) 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 ( 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.

($1 = 57.32 Philippine pesos)

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