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Proactiveinvestors is a leading multimedia news organization, investor portal and events management business with offices in New York, Sydney, Toronto and London. Proactiveinvestors operates five financial websites in four languages providing breaking news, comment and analysis on hundreds of... More
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  • EMED Mining exercises full over-allotment option after Toronto IPO 0 comments
    Jan 11, 2011 10:43 AM | about stocks: EMD
    EMED Mining Public Ltd (LON:EMD, TSX:EMD) said the agents that facilitated the recent IPO in Canada have exercised the over-allotment option granted to them in full, raising a further C$2.4 million for the company.

    Just before Christmas, EMED completed the IPO in Toronto and the concurrent private placement in London, raising C$24.43 million, approximately £15.3 million, and £5.11 million, approximately C$8.12 million, respectively.

    EMED placed 180,970,000 ordinary shares in Canada at an issue price of C$0.135, or approximately 8.5 pence.  It flagged at the end of November it would issue the shares at no less than 8p each, which was in line with the share price then.

    It granted its Canadian agents an over-allotment option up to 18,145,500 shares, which was taken up in full.

    EMED’s flagship asset is the Rio Tinto copper mine redevelopment project in the Andalucia region of Spain.
    Themes: TSX, Mining Stocks: EMD
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