mineral resources
Sunkar Resources raised £33.6 million in IPO
(Silk Road Intelligencer) - Sunkar Resources raised £33.6 million ($67.2 million) in its IPO on the AIM in London this morning with the stock offering priced at 120p per share.
The Kazakh phosphate miner opened at 123p and closed at 110p.
“This IPO is an important milestone in the development of Sunkar and it is a clear indicator of investors’ faith in the attractiveness of our asset base and Kazakhstan,” said chief executive Serikjan Utegen in a press release.
“We look forward to developing the mine during the course of the year and are determined to develop Sunkar into one of the region’s leading phosphate production companies.”
Canaccord Adams is the nominated adviser and joint broker to the company, and GMP Securities Europe is acting as a joint broker.
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