VANCOUVER, Oct 13 (Reuters) – A doubling in zinc prices since late 2015 and strong outlook for the commodity has fueled a flurry of zinc miner listings on the Toronto Stock Exchange as companies cash in on investor demand for producers of the metal.
Brazil-based Nexa Resources, a top five global zinc producer, is seeking to raise up to $651 million in an initial public offering in Toronto and New York in what would be the world’s biggest zinc-focused IPO since China’s Western Mining Co Ltd in 2007, according to Thomson Reuters data.
At least three other zinc miners, including Titan Mining and Dublin-based Group Eleven Resources Corp, are planning listings on the Toronto Stock Exchange or the TSX Venture Exchange (TSX-V) market for small start-ups, according to company filings.
That comes on top of six small listings this year on the Toronto markets, home to more than half of the world’s public mining companies.
“Zinc is a hot commodity right now and people are looking for ways to play the zinc market,” said Richard Warke, chief executive of Titan Mining, which wants to raise C$45 million ($36 million) in an IPO.
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