Barrick Mining Plans IPO to Spin Off North American Gold Assets
- Reports
- 3
- Developments
- 2
- Repetition
- 33%
New informationRepeats or wire copies
What happened
Barrick Mining Corporation announced plans to file for an initial public offering of its North American gold business. The proposed company, which will be led by Mark Hill, would hold interests in Cortez and Pueblo Viejo in the Dominican Republic. The preliminary registration statement for the U.S. IPO was filed on November 10.
Why it matters
The separation aims to give the new business its own valuation and broaden its options within North America’s gold industry. The announcement of the IPO led to Barrick shares rising 3.6% on Monday morning.
Who's involved
- Barrick Mining CorporationIs undertaking the asset spin-off and IPO.
- Mark HillWill lead the proposed new company.
- CortezIs one of the gold operations included in the proposed company.
- Pueblo ViejoIs a mine site in the Dominican Republic included in the IPO.
- Dominican RepublicIs the country where the Pueblo Viejo mine is located.
How it developed
Newest first. Tap a step to see who reported it.Mark Hill to lead new company holding Cortez and Pueblo Viejo operations in DR.1 source
Barrick Gold is seeking separation and NYSE listing for its Pueblo Viejo assets in the Dominican Republic.1 source
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The entities involved
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Cortez
town in and county seat of Montezuma County, Colorado, United States
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Mark Hill
screenwriter
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Dominican Republic
island sovereign state in the Caribbean Sea
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Pueblo Viejo
in Veracruz, Mexico
Nothing else this week.