Golden International Mining Group, the Santiago based mining company, has today announced the launch of a marketed public offering of the company’s common shares.
In connection with the initial public offering, Golden International has filed an application to list its common shares on the Santiago Stock Exchange (the “SSE”) under the symbol “GINT”. Trading in Golden International shares is expected to commence on the SSE following the pricing of the offering.
A total of 4,500,000 common shares will be offered for sale by the Company in the offering, which will be priced in the context of the market. Terms, such as price per share, will be determined at the time of entering into an underwriting agreement.
Golden International intends to use the net proceeds for working capital, capital expenditures, and to fund planned increases to their workforce and the number of explorations undertaken by the company each year. Golden International currently operates at two locations in Chile and Ecuador.
Discussions with underwriters are already underway and the offering is expected to be available early in the 2nd quarter of 2022, said Golden International president Rafael Hernandez Ortega.
“We are excited for the opportunities this will offer Golden International Mining Group moving forward,” said Hernandez Ortega.
The registration statement relating to the proposed IPO has been filed with the relevant bodies but is not effective at this stage.
The IPO decision is the latest in the mining industry, with 2021 proving a record year for offerings with over 80 launched, most notably Kuniko and Australasian Gold. This was a continuance of trends set the previous year, with high commodity prices through 2020 driving a flurry of IPO activity.