Friedland’s Ivanplats Said to Weigh $1 Billion Initial Offering

Ivanplats Ltd., a mining company controlled by billionaire Ivanhoe Mines Ltd. founder Robert Friedland, may seek as much as $1 billion in an initial public offering as early as the second quarter, according to people with knowledge of the plan.

Ivanplats, which has metals deposits in South Africa and the Democratic Republic of Congo, may be valued at as much as $5 billion after the stock sale, according to the people, who declined to be identified as the process is private. The IPO may take place in Toronto, followed by a secondary listing in London, the people said.