Ivanplats Stock Rises 6.3 Percent After $2.55 Billion IPO

Reuters reported stock of Ivanplats Ltd (TSX:IVP) rose 6.3 percent on the Toronto Stock Exchange on Wednesday after an initial public offering pledging $2.55 billion.

As quoted in the market news:

Ivanplats, a venture backed by Robert Friedland – one of the best-known project promoters in the mining industry – announced its long-awaited plan to list in Toronto last month.

Chicago-born Friedland is known across the mining industry for his showmanship and flamboyance, almost as much as for his talent in spotting the potential of some of the world’s biggest deposits, among them the Voisey’s Bay nickel deposit in Eastern Canada and the Oyu Tolgoi copper and gold deposit in Mongolia.

Click here to read the full Reuters report.