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OceanaGold Completes IPO, Raises US$106M for the Sale of 20% Interest in OGPI

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OceanaGold Completes IPO, Raises US$106M for the Sale of 20% Interest in OGPI

 

 

 

 

 

OceanaGold Corporation (TSX: OGC) (OTCQX: OCANF) is pleased to announce that its wholly owned subsidiary, OceanaGold Philippines, Inc. has completed the initial public offering of 20% of the outstanding common shares of OGPI on the Philippines Stock Exchange. The shares are listed under the ticker ‘OGP’, and trading began on May 13, 2024.

 

OGPI holds the Company’s interest in the Didipio Mine and, pursuant to the terms of the renewed Financial or Technical Assistance Agreement (“FTAA”), was required to list its common shares on the PSE. The Offering was a secondary offering of common shares and the proceeds were received by a wholly-owned subsidiary of OceanaGold.

 

The final Offering price was ₱13.33 per share for 456,000,000 common shares of OGPI and gross proceeds totalling ₱6.08B (approximately US$106M1) were raised. Available proceeds from the Offering, net of fees and taxes, will be applied to the repayment of OceanaGold’s debt. The Company had $160M of debt at March 31, 2023.

 

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1 Calculated at an exchange rate of US$1=₱57.32, subject to change

 

 

About OceanaGold

 

OceanaGold is a growing intermediate gold and copper producer committed to safely and responsibly maximizing the generation of Free Cash Flow from our operations and delivering strong returns for our shareholders. We have a portfolio of four operating mines: the Haile Gold Mine in the United States of America; Didipio Mine in the Philippines; and the Macraes and Waihi operations in New Zealand.

 

Posted May 13, 2024

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