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OceanaGold Closed IPO, Raises US$106M for the Sale of 20% Interest in OGPI

OceanaGold Closed IPO, Raises US$106M for the Sale of 20% Interest in OGPI

OceanaGold listed its subsidiary OceanaGold Philippines, Inc. on the Philippine Stock Exchange. is excited to announce the successful completion of its initial public offering (IPO). The IPO involved the sale of 20% of OGPI's common shares under the ticker 'OGP', which will begin trading on May 13, 2024.

OGPI manages OceanaGold's interest in the Didipio Mine and was obligated to list its common shares on the PSE pursuant to the terms of the renewed financial or technical assistance agreement. The offering raised ₱6.08 billion (approximately US$106 million) through the sale of 456 million common shares at a final price of 13.33 per share.

The proceeds, after deduction of fees and taxes, will be used to repay OceanaGold's debt, which stood at $160 million as of March 31, 2023.

OceanaGold is a growing gold and copper producer committed to responsibly and safely generating free cash flow from its operations. The company operates four mines: the Hale Gold Mine in the United States, the Didipio Mine in the Philippines, and the Macreese and Waihi operations in New Zealand.

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