New Gold funds Rainy River project

摘要

The vagaries of commodity prices heighten risks when it comes to raising equity capital. When the raise is backstopped, as is commonplace in Canada, movements in the underlying commodity can subject investment banks to sizable losses (or profits). RBC Capital Markets and Scotiabank were solidly in the black on a US$150m primary sale of stock executed overnight on Wednesday for new cold, an intermediate Canadian gold miner. The banks were multiple-times oversubscribed after reoffering 53.6m shares at US$2.80. New Cold shares, which are listed on both the NYSE and TSX, closed the session at US$3.04/ C$3.96, as gold continued its recent run.