Lumina Metals, Shareholder Seek $251 Million in Toronto IPO

Lumina Metals Corp. and one of its shareholders are seeking to raise C$343.7 million ($251 million) in an initial public offering in Toronto, building on a modest recovery in Canadian market debuts.

The copper and silver mining company and the Sitka Foundation are marketing 27.5 million shares in aggregate for C$12.50 each, according to a filing late Thursday with Canadian regulators. Lumina is offering 22 million shares and Sitka is offering about 5.5 million shares, the filing shows.