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Investing.com -- Aura Minerals Inc. began trading on the Nasdaq Global Select Market Tuesday at $24.50 per share, slightly above its initial public offering price of $24.25.
The gold and copper producer priced its U.S. initial public offering of 8,100,510 common shares at $24.25 per share on Monday. The company is trading under the ticker symbol "NASDAQ:AUGO".
Aura Minerals stated that the primary purpose of the offering is to transfer its principal listing venue to a U.S. stock exchange, which the company believes will increase liquidity of its common shares and diversify its shareholder base through broader access to global capital markets.
The company plans to use the net proceeds from the offering to strengthen its business, including funding the upfront cash payment for the acquisition of Mineração Serra Grande S.A. and any potential capital expenditures required for that acquisition.
Additional proceeds will provide liquidity to support strategic growth initiatives, including the potential advancement of development projects such as Era Dorada and Matupá, as well as exploration initiatives to expand mineral reserves and resources in its portfolio. The remainder will be used for general corporate purposes.
In connection with the offering, Aura has granted underwriters a 30-day option to purchase up to an additional 1,215,077 common shares at the public offering price, less underwriting discounts and commissions.
BofA Securities and Goldman Sachs & Co (NYSE:GS). LLC are acting as Global Coordinators for the offering, with BTG Pactual and Itaú BBA serving as Joint Bookrunners. Bradesco BBI, National Bank of Canada (OTC:NTIOF) Financial Markets, RBC Capital Markets and Scotiabank (TSX:BNS) are acting as Co-Managers.
Aura Minerals is also listed on the Toronto Stock Exchange under the symbol "TSX:ORA", on Brazil’s B3 exchange as "B3:AURA33", and on the OTCQX as "OTCQX:ORAAF".
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