Canada’s Hudbay Minerals to raise US$300mil in equity offering

Underwriters led by RBC Capital Markets and BMO Capital Markets will buy 31.6 million shares of Hudbay at US$9.50 each under a bought deal. — Reuters

TORONTO: Canadian copper miner Hudbay Minerals plans to raise US$300.2mil in an equity offering to help fund near-term growth initiatives at its Copper Mountain unit, among other purposes, the company says.

Underwriters led by RBC Capital Markets and BMO Capital Markets will buy 31.6 million shares of Hudbay at US$9.50 each under a bought deal.