OceanaGold is excited to announce the successful completion of its subsidiary’s, OceanaGold Philippines, Inc., initial public offering (IPO) on the Philippines Stock Exchange. The IPO involved selling 20% of the common shares of OGPI under the ticker ‘OGP’, with trading commencing on May 13, 2024.
OGPI manages OceanaGold’s interest in the Didipio Mine and was obligated to list its common shares on the PSE as per the terms of the renewed Financial or Technical Assistance Agreement. The offering raised ₱6.08 billion (approximately US$106 million) through the sale of 456 million common shares at a final price of ₱13.33 per share.
The proceeds, after deducting fees and taxes, will be used to repay OceanaGold’s debt, which stood at $160 million as of March 31, 2023.
OceanaGold is a growing gold and copper producer committed to generating Free Cash Flow from its operations responsibly and safely. The company operates four mines: the Haile Gold Mine in the United States, the Didipio Mine in the Philippines, and the Macraes and Waihi operations in New Zealand.
