TORONTO – Ivanplats Limited has filed the final prospectus for its initial public offering aiming to raise $300 million. Total equity to be issued in $493 million with the conversion into common shares of $193 million worth of pre-IPO bonds issued in 2011 and 2012. The prospectus qualifies the distribution of 63.3 million Ivanplats Class A common shares at a price of $4.75 per share, for gross proceeds to the company of approximately $300 million, excluding the over-allotment option.
Ivanplats' shares have been conditionally approved for listing on the Toronto Stock Exchange under the symbol IVP. The IPO is expected to close and trading to begin on Oct. 23, 2012, subject to meeting customary conditions and listing requirements.
The company is headed by chairman Robert Friedland (of Voisey’s Bay and Ivanhoe Mines fame) and CEO Lars-Eric Johansson. Ivanplats is focused on copper, platinum, gold, nickel and zinc projects, primarily in Africa. Three projects are of particular interest: the Kamoa copper project and Kipushi zinc project in the Democratic Republic of Congo and the Platreef platinum-palladium-gold-nickel-copper project on the Northern Limb of the Bushveld igneous complex in South Africa.
The Ivanplats website is under construction at Ivanplats.com.