Fresnillo shares edge up 2.7% on silver gains, Sinda IPO move
Fresnillo shares rose 2.7% to 3,051.5 pence in London after the miner agreed to buy up to 5% of Sinda Ltd at its planned New York IPO price. Sinda aims to raise up to $235.2 million, valuing the company at as much as $1.97 billion. Fresnillo’s investment could total $84 million to $99 million. The deal depends on the IPO closing and locks up Fresnillo’s shares.