Barrick picks U.S. over Canada for primary stock listing of North American spinout
Barrick Mining Corp. has opted for a primary stock listing in the United States for its upcoming North American spinoff, which is a setback for Canada's capital markets. The new entity, North American Barrick, will include a stake of 10 to 15 percent in its North American mines. This decision reflects ongoing concerns about the decline of Canadian capital markets and the desire for better valuation opportunities in the U.S.
- ▪Barrick Mining Corp. has chosen the U.S. for its primary stock listing over Canada.
- ▪The North American spinoff will include a stake of 10 to 15 percent in Barrick's North American mines.
- ▪Industry experts suggest that Canada's capital markets are in decline, impacting companies' listing decisions.
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ShareSave for laterPlease log in to bookmark this story.Log InCreate Free AccountBarrick Mining Corp. ABX-T has chosen the United States over Canada as the site of its primary stock listing for its coming North American spinoff, dealing a blow to Canada’s capital markets. Later this year, Barrick plans to spin off a stake of between 10 to 15 per cent in its North American mines, including its promising Fourmile discovery in Nevada. In a press release on Tuesday the company said that the new standalone unit, North American Barrick, is expected to have its primary listing in New York, with a secondary listing in Toronto. It is unclear where North American Barrick will be domiciled. George Joannou, chief development officer with Barrick, declined to comment on the matter.
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