Resource Capital Funds' TMAC wraps up IPO with $155 mln raise
TMAC Resources Inc, a portfolio company of U.S. private equity firm Resource Capital Funds (RCF) and other investors, has completed its previously-announced initial public offering (IPO), giving TMAC a Toronto Stock Exchange listing under the symbol "TMR". The offering, which was targeted to raise $135 million in gross proceeds, brought in $155.1 million in total, which accounts for an over-allotment purchase option granted to underwriters. The IPO's net proceeds will be used in part to fund development of the Toronto-based company’s Hope Bay gold project in Nunavut. The project is scheduled for initial production in December 2016.
11 August 2015•3 mins read
