June 22 (Reuters) - Silver miner Sinda on Monday launched its U.S. initial public offering roadshow, targeting a valuation of up to $1.97 billion and contributing to what is shaping up to be a busy summer for stock market debutants.
The company is looking to sell 17.75 million shares, priced between $11.25 and $13.25 apiece, raising as much as $235.2 million.
New stock offerings have picked up pace this year as buoyant equity markets and improving investor sentiment create a more favorable backdrop for companies seeking to go public. Uber-backed Lime and Oaktree-backed digital infra firm ITG also launched their IPOs on Monday.
Sinda is a portfolio company of The Electrum Group, a natural resources-focused investment firm. The company is led by founder and chairman Thomas Kaplan, a prominent investor in precious metals and natural resource assets.
Mining companies have benefited from elevated commodity prices. Silver has climbed over the past year as investors sought the safety of precious metals and strong demand from solar panel and electronics manufacturers supported its industrial use.
Sinda is an exploration-stage silver firm focused on developing the Sinda Property in Guanajuato, Mexico — a large primary silver deposit that the company says has the potential to become a globally significant mining operation.
"Large primary silver assets such as the Sinda Property are rare, with only approximately 26% of global mined silver supply coming from primary silver mines in 2025," it said in its IPO prospectus.
After the IPO closes, Sinda's shares are expected to trade on New York Stock Exchange under the ticker symbol "SIND".
Morgan Stanley, Scotiabank and BMO Capital Markets are the lead underwriters for the IPO.
Reporting by Manya Saini in Bengaluru; Editing by Joyjeet Das and Jonathan Ananda
Source: Reuters