Photo by OceanaGold.
OceanaGold Corp. is eschewing common investment banking advice and pursuing what the company’s CEO thinks is a winning strategy: A “boring” US listing without selling additional shares.
Vancouver-based OceanaGold, which has seen its shares more than double over the last year on the Toronto Stock Exchange, completed a three-for-one stock consolidation this week as part of its preparation to debut on a US exchange. The gold mining company’s plan comes as Toronto investment bankers say they are fielding more calls from Canadian firms looking to dual list in the US as they advise those firms to raise money at the same time.
But OceanaGold President and CEO Gerard Bond said his company doesn’t need more cash. Still, he admits that “the bankers are right: if you list in the US and at the same time are issuing new shares, there’s a bit more fanfare and sizzle and so…
