Sunshine Silver Mining rises 11% in NYSE debut after $270 million US IPO

Sunshine Silver Mining & Refining Company
Honeywell International Inc.
First Majestic Silver Corp.

Sunshine Silver Mining & Refining Company

SSMR

0.00

Honeywell International Inc.

HON

0.00

First Majestic Silver Corp.

AG

0.00

- Sunshine Silver Mining & Refining Company's SSMR.N shares jumped 11% in their New York Stock Exchange debut on Thursday, after the precious metals miner raised $270 million in its U.S. initial public offering.

Here are some details of the listing:

  • The Kellogg, Idaho-based company's stock opened for trading at $15 apiece.

  • It sold 20 million shares in the IPO at $13.50 apiece, the lower end of its targeted range of $13.50 to $16.50 each.

  • Founded in 2010, Sunshine Silver focuses on acquisition, redevelopment and operation of precious metal assets across North America.

  • Silver prices have risen over the past year as investors piled into precious metals and on strong demand from solar and electronics manufacturers.

  • The U.S. IPO market has regained momentum this summer after Middle East tensions and concerns about AI's impact on software companies rattled sentiment and sidelined many issuers earlier this year.

  • Honeywell's HON.O quantum computing company Quantinuum and Advent- and ADIA-backed gas engine maker Innio are also set to headline a busy week for U.S. IPO activity.

  • Morgan Stanley, Scotiabank and BMO Capital Markets were the lead underwriters of Sunshine Silver's offering.