Posted in | News | Gold | Copper | Mining Business

Ivanhoe Mines Reports Expiry of Strategic Rights Offering

Ivanhoe Mines (TSX:IVN)(NYSE:IVN)(NASDAQ:IVN) announced today that its strategic rights offering expired on January 26, 2011, as scheduled.

Based on preliminary results that are subject to confirmation of amounts that will be received from brokers using guaranteed delivery procedures, Ivanhoe estimates it will receive gross proceeds of approximately US$1.18 billion from the rights offering to help finance construction of the Oyu Tolgoi copper-gold project in Mongolia.

Also based on preliminary results, Ivanhoe expects to issue a total of approximately 85 million new common shares through the rights offering, which would represent approximately 99% of the maximum number of common shares available under the rights offering.

Robert Friedland and Rio Tinto, Ivanhoe Mines' two largest shareholders, both exercised all of their respective rights that were issued to them in the rights offering. Mr. Friedland also purchased an additional 1.5 million rights on the open market and exercised them to acquire additional common shares. Based on the preliminary results, Mr. Friedland's ownership stake in Ivanhoe Mines now is 15.5%; Rio Tinto has maintained its current ownership at 40.3%.

Ivanhoe expects that the rights offering will close on February 2, 2011, to accommodate those who exercised rights using guaranteed delivery procedures. Ivanhoe intends to mail new common shares acquired through the rights offering to registered subscribers on or promptly after the scheduled closing of the offering.

The Board of Directors of Ivanhoe Mines extends its appreciation to all shareholders who participated in, and contributed to, the success of the rights offering.

Citi was the lead dealer manager for the rights offering. BMO Capital Markets and CIBC were co-dealer managers.

Source: Ivanhoe Mines


Please use one of the following formats to cite this article in your essay, paper or report:

  • APA

    Ivanhoe Mines Ltd. (2019, February 18). Ivanhoe Mines Reports Expiry of Strategic Rights Offering. AZoMining. Retrieved on February 02, 2023 from

  • MLA

    Ivanhoe Mines Ltd. "Ivanhoe Mines Reports Expiry of Strategic Rights Offering". AZoMining. 02 February 2023. <>.

  • Chicago

    Ivanhoe Mines Ltd. "Ivanhoe Mines Reports Expiry of Strategic Rights Offering". AZoMining. (accessed February 02, 2023).

  • Harvard

    Ivanhoe Mines Ltd. 2019. Ivanhoe Mines Reports Expiry of Strategic Rights Offering. AZoMining, viewed 02 February 2023,

Tell Us What You Think

Do you have a review, update or anything you would like to add to this news story?

Leave your feedback
Your comment type