Sinda confirmed late on Thursday that it raised $213 million through its U.S. initial public offering, marking another silver producer to access the recent listings market. The company placed 17.75 million shares in the offering at $12 per share, a price set within the previously marketed range of $11.25 to $13.25 per share.
The company is a portfolio holding of The Electrum Group, an investment firm focused on natural resources that is run by metals investor Thomas Kaplan. Electrum also backs Sunshine Silver Mining & Refining Company, which completed a public listing in New York earlier this month.
Sinda is expected to commence trading on the New York Stock Exchange under the ticker symbol "SIND" on Friday. The successful placement of the 17.75 million shares at $12 each produced the $213 million total reported by the company.
The offering and its pricing fall within the range marketed to investors, reflecting the final share price decision relative to the indications given during the IPO process. The company and its backer, The Electrum Group, now join other recent entrants in the public markets this month.
Market context and immediate implications
The transaction represents a capital markets milestone for Sinda as it moves from a privately held portfolio company to a publicly traded issuer. The listing on the NYSE under the SIND ticker will make the company’s shares available to a broader set of investors. The involvement of The Electrum Group and the recent public listing of another Electrum-backed miner are factual elements tied to Sinda’s path to the market.
Summary of key data points
- Sinda raised $213 million in its U.S. IPO.
- The company sold 17.75 million shares at $12 apiece, inside the marketed range of $11.25 to $13.25.
- Sinda is a portfolio company of The Electrum Group, led by Thomas Kaplan, and is expected to begin trading on the NYSE under the ticker SIND on Friday.
- Sunshine Silver Mining & Refining Company, another miner backed by The Electrum Group, went public in New York earlier this month.