Barrick picks U.S. over Canada for primary stock listing of North American spinout
Barrick Mining Corp. will list its upcoming North American spinoff, which includes mines like Fourmile in Nevada, primarily on a U.S. exchange in New York, with a secondary listing in Toronto. The company has not yet decided where the new entity will be domiciled. A new executive team has been appointed for North American Barrick, including Tim Cribb as COO and Wessel Hamman as CFO. The move may still allow inclusion in Canadian stock indexes if listing and liquidity criteria are met.
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ShareSave for laterPlease log in to bookmark this story.Log InCreate Free AccountBarrick Mining Corp. ABX-T has chosen the United States over Canada for its primary stock listing for its upcoming North American spin off. Later this year, Barrick plans to spin off between a 10-to-15-per-cent stake in its North American mines, including its promising Fourmile discovery in Nevada. In a press release on Tuesday the company said that North American Barrick is expected to have its primary listing in New York, with a secondary listing in Toronto. It is unclear where North American Barrick will be domiciled. Should it choose to incorporate North American Barrick in the U.S., there is a possibility the spinout could still qualify for inclusion in Canada’s major stock market indexes.
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