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Friedland’s Ivanhoe Electric Seeks as Much as $180 Million in IPO

Mining magnate’s company looks to tap investor interest in critical minerals.

Robert Friedland

Robert Friedland

Photographer: Tarina Rodriguez/Bloomberg

Mining magnate Robert Friedland’s Ivanhoe Electric Inc. is seeking to raise as much as $180 million by selling shares in an initial public offering, tapping investor interest in critical minerals that are key to the global energy transition.

Ivanhoe Electric plans to sell about 14.4 million shares for $11.75 to $12.50 each in the IPO, the company led by Friedland said Friday in a US regulatory filing. The investment banks managing the sale have an option to sell an additional 2.16 million shares, which could lift proceeds to as much as $206.8 million. The stock is expected to trade on NYSE America and on Canada’s Toronto Stock Exchange, both under the ticker symbol IE.