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Yamana’s gold IPO on track, but prices at deep discount Add to ...

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After several attempts to sell or spin off its Brazilian assets, Yamana Gold Corp.’s finally found some luck.

Late last week, the Canadian gold producer filed a final prospectus for its initial public offering of Brio Gold Corp., a new, separate company that will hold the Brazilian properties.

The deal was a tricky sell when it first launched in October, because unlike a traditional IPO, Yamana decided to do this one by way of a rights offering. Under these terms, existing shareholders were given the right to purchase stock in the new company. Normally, spin-outs involve offering the shares to a mix of new and existing shareholders.

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