Magma Raises C$100 Million in Canada’s Biggest IPO in a Year

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This blog was created to publish news on argentinean mining, thus complementing our website and presence in social networks. As all of our activities, it intends to connect the mining community in Argentina and provide a place to promote the activity in the world, developing business opportunities.

26 jun 2009

Magma Raises C$100 Million in Canada’s Biggest IPO in a Year

By Doug Alexander and Sean B. Pasternak

June 25 (Bloomberg) -- Magma Energy Corp., a Vancouver- based geothermal power company, raised C$100 million ($86 million) in Canada’s biggest initial public offering in 13 months, people familiar with the sale said.
Magma sold 66.7 million shares at C$1.50 each, according to people familiar with the matter. The company, which initially sought to raise C$50 million, increased its offering to meet demand, the people said today.
The sale is the biggest IPO in Canada since Toronto-based money manager Sprott Inc. went public in May 2008 in a C$200 million sale, according to Bloomberg data.

Continue reading at: http://www.bloomberg.com/apps/news?pid=20601082&sid=aIvIyKLdeFMs

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