Brazilian zinc miner, Votorantim Metais files for IPO on NYSE and TSX

VM Holding S.A. (Votorantim Metais) has filed for an initial public offering (IPO) and concurrent secondary offering on The New York Stock Exchange (NYSE) and The Toronto Stock Exchange (TSX).

The offering price terms are to be announced. VM Holding filed US $100,000,000 as the proposed maximum aggregate offering price for calculation filing fees.

São Paulo, Brazil based Votorantim S.A., the sole selling shareholder, currently owns 483,755,254 common shares, representing 89.35% of 541,416,065 outstanding common shares of VM Holding.

VM Holding is to be renamed Nexa Resources S.A. Its stock is expected to trade on NYSE and TSX under the symbol “NEXA”.

The offering is being led by JP Morgan, BMO Capital Markets, Morgan Stanley, and Credit Suisse with BofA Merrill Lynch, Citigroup, Scotiabank, Bradesco BBI, and Credicorp Capital as joint bookrunners.

Cleary Gottlieb Steen & Hamilton LLP and Stikeman Elliott LLP act as the US and Canadian legal counsel to VM Holding. Clifford Chance is VM Holding’s Luxembourg counsel. Skadden, Arps, Slate, Meagher & Flom LLP and McCarthy Tétrault LLP act as legal counsel to the underwriters.

Luxembourg registered VM Holding is a large-scale, low-cost integrated zinc producer with over 60 years of experience developing and operating mining assets in Latin America. It operates and owns five long-life underground mines, three located in the Central Andes of Peru and two located in the state of Minas Gerais in Brazil.

photo credit: Votorantim Metals


Ted Liu
Ted Liu, M.Sc. (Mining), MBA (Finance), is the Editor of Private Capital Journal, TechnologyMetals.ca, GoldSilverMetals.ca, and former Editor of Canadian Private Equity. Ted has been passionately tracking Canadian private capital industry since 1992, most recently served as Research Director for The Canadian Venture Capital and Private Equity Association (CVCA). Ted was the architect of CVCA infobase, and is the architect of sophisticated and advanced CPE Media Private Capital Dealbase. Ted is President of CPE Media Inc., Canada's independent, trusted and unbiased data provider tracking Canadian VC/PE, private capital industry and public market.
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