Friday May 9, 08:09 AM
Fresnillo IPO set at 555 pence a share, says see market cap at 3.98 bln pounds
LONDON (Thomson Financial) - The world's largest producer of primary silver Fresnillo Plc. said it priced its shares at 555 pence apiece at its IPO and that its market capitalisation is expected at 3.98 billion pounds.
The company
said it expects to see gross proceeds of around 900 million pounds from its initial share sale, which will be used to re-pay existing debt and to help achieve growth and expansion of operations.
Fresnillo said JP Morgan was given over-allotment options for 16.3 million shares.
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