Barrick Mining Corp. has filed paperwork for an initial public offering of a new company, American Barrick Gold Corp., to hold its North American gold assets.
The Story
Barrick Mining Corp. has filed paperwork for an initial public offering of a new company that will hold its North American gold assets.
The new entity will be named American Barrick Gold Corp. and is expected to distribute net proceeds from the offering back to Barrick, which said it expects to return the funds to its shareholders.
Barrick did not provide the total number of shares or a proposed price range, saying those details have yet to be determined.
The company said in April that it was on track for the initial public offering by the end of the year, and that American Barrick is slated to trade on the New York Stock Exchange under the symbol ABGC.
Barrick also said there is no indication the new offering will list in Canada, and that the IPO remains subject to market and other conditions, as well as completion of the U.S. regulatory process.
← More stories