LONDON (dpa-AFX) - Guardian Metal Resources PLC (GMTLF, GMET.L), a mineral exploration and development company, on Thursday, priced its upsized U.S. initial public offering of 4.44 million American Depositary Shares at $13.50 per ADS, for gross proceeds of about $60 million before expenses.
The offering is expected to close on March 24.
The offering consists of ADSs representing 22.22 million new ordinary shares, all sold by the company.
The company granted underwriters a 45-day option to purchase up to an additional 666,660 ADSs.
The ADSs are expected to begin trading on the NYSE American on March 20 under the ticker 'GMTL.'
Application has been made for the ADS shares to be admitted to trading on AIM, with admission expected on or around March 24.
Following admission, the company's issued share capital will comprise 190.95 million ordinary shares, representing total voting rights.
On Thursday, Guardian Metal Resources closed trading 10.20% lesser at GBp 220 on the London Stock Exchange.
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