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ROAD TOWN, British Virgin Islands - Gold and base metals producer Aura Minerals Inc. (NASDAQ:AUGO) (TSX:ORA), a company with a market capitalization of $2 billion and a robust 6.8% dividend yield, announced Thursday it has closed its U.S. initial public offering of 8,100,510 common shares at $24.25 per share. According to InvestingPro analysis, the company maintains a "GOOD" financial health score.
The company’s shares began trading on the Nasdaq Global Select Market under the ticker symbol "AUGO" on Wednesday.
Aura intends to use the net proceeds to fund part of the upfront cash payment for its planned acquisition of Mineração Serra Grande S.A., support capital expenditures, and provide liquidity for strategic growth initiatives including the advancement of development projects such as Era Dorada and Matupá. InvestingPro data reveals strong growth potential, with analysts forecasting a 40% revenue increase this year. Subscribers can access 12 additional exclusive ProTips about AUGO’s growth prospects.
BofA Securities and Goldman Sachs & Co. LLC acted as Global Coordinators for the offering, with BTG Pactual and Itaú BBA serving as Joint Bookrunners. The underwriters have a 30-day option to purchase up to an additional 1,215,077 common shares at the offering price.
The company stated that transferring its principal listing venue to a U.S. stock exchange aims to increase liquidity of its common shares and diversify its shareholder base through broader access to global capital markets.
Aura Minerals operates five mining assets across the Americas, including gold mines in Honduras and Brazil, and a copper-gold-silver mine in Mexico. The company also has several development and exploration projects in Brazil, Guatemala, and Colombia.
The offering was not registered in Brazil and was made available in Canada only through private placement to accredited investors and permitted clients, according to the press release statement.
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