Canada's Barrick Mining files for IPO of North America business in New York
B•Barrick Mining filed for an IPO of its North America business, American Barrick Gold, which is slated to list on the New York Stock Exchange under the symbol ABGC. Barrick will retain majority ownership after the IPO, which its future CEO said would launch by early next year.
1. IPO filing
Barrick Mining filed for an IPO of its North America business, American Barrick Gold. The new company will list on the New York Stock Exchange under the symbol ABGC, and Goldman Sachs, Bank of America Securities and RBC Capital Markets are underwriting the offering.
2. Proposed separation
Mark Hill, who will be American Barrick Gold's CEO, said on Monday that the IPO would be launched by early next year. Barrick Mining will own a majority of American Barrick Gold's common stock after the IPO. Barrick currently holds assets in North America, Africa, Latin America and the Asia-Pacific.
