Sunshine Silver is moving ahead with its plan for a major U.S. initial public offering. The Idaho-based mining and refining company is looking to list on the New York Stock Exchange (NYSE) at a valuation of up to $2.32 billion. The listing is shaping up to be the most significant silver-focused IPO since 2020.
The official announcement outlines how the company plans to raise up to $330 million by selling 20 million shares priced between $13.50 and $16.50 each. Underwriters will receive a 30-day option to purchase an additional 3 million shares, potentially upsizing the offering.
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The shares will trade on the New York Stock Exchange under the ticker symbol “SSMR”. Morgan Stanley, Scotiabank, and BMO Capital Markets are acting as joint lead book-running managers, while Canaccord Genuity, Citigroup, and RBC Capital Markets are joint bookrunners.
Founded in 2010 and headquartered in Kellogg, Idaho, Sunshine Silver focuses on the acquisition, redevelopment, and operation of precious metals assets across North America.
