- Ivanhoe Electric's parent company is I-Pulse, and billionaire Robert Friedland reportedly co-founded it.
- Ivanhoe Electric reportedly aims to reduce the reliance of America on China.
- Ivanhoe Electric wants to go public to raise funds and use them in different business activities.
The United States-based Ivanhoe Electric Inc. is looking for a dual debut in the US and Canada equities markets amid rough market conditions. Some reports suggest that the company is looking to go public to raise funds and help America reduce its dependence on China for getting minerals like copper.
Copper is a base metal, but its demand continues to increase globally. The need for copper is primarily due to its usage in almost everything, like making batteries for electric vehicles (EVs).
Ivanhoe Electric wants to go public on the New York Stock Exchange (NYSE) in the United States and the Toronto Stock Exchange in Canada.
All you need to know about Ivanhoe Electric
Ivanhoe Electric's parent company is I-Pulse, and billionaire Robert Friedland reportedly co-founded it. The company reportedly explores and produces metals like gold, silver, and copper.
Additionally, Ivanhoe Electric runs a battery-based energy storage business, and Mr Friedland serves as the chief executive officer at the company.
Ivanhoe Electric reportedly aims to reduce the reliance of America on China by supporting the country's supply chain independence and providing critical metals required for the electrification of the economy.
The company has mining operations in the United States, and Ivanhoe believes that the country has a good potential to yield new metals as it is significantly underexplored.
In the United States, Ivanhoe Electric has main mining operations at Arizona's Santa Cruz Copper Project and Tintic Copper-Gold Project in Utah.
Ivanhoe is looking to trade under the ticker symbol IE in both NYSE and TSX markets. Meanwhile, the underwriting responsibility for the IPO is on Jefferies and BMO Capital Markets.
Interested investors will have to wait to know when will the IE stock start trading in a public market. As of now, the company has not announced the date of the IPO.
Ivanhoe Electric is looking to go public to raise funds and use them in different business activities. As the price range and the number of shares were not revealed, we don't know how much the company will generate in gross proceeds.
Ivanhoe will explore mineral projects and find Ore Bodies for commercial purposes with the gross proceeds. Ivanhoe Electric also aims to complete the Santa Cruz Project in the second half of this year.
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