Agnico Declines Barrick IPO
Agnico Eagle CEO Ammar Al-Joundi stated the company has no interest in participating in Barrick Mining's proposed North American initial public offering. Al-Joundi noted that Agnico prefers to focus on its own independent business strategy.
Insights:
Agnico Eagle Mines has ruled out buying into Barrick Mining's proposed North American initial public offering, CEO Ammar Al-Joundi said Tuesday afternoon. The Canadian gold producer cited internal growth priorities rather than valuation concerns. The decision comes as Canada domiciled Barrick prepares to sell a 10% to 15% equity stake in its North American operations.
