Vedanta's CopperTech Metals targets $3.6 billion valuation in US IPO

CopperTech Metals is targeting a valuation of up ‌to $3.57 ⁠billion ⁠in its U.S. initial public offering, as the copper and cobalt producer seeks to raise as much as $423.5 million, it ⁠said on ‌Tuesday.

The ​U.S.-domiciled ​company plans to ⁠offer 23.5 million shares priced between $16 ​and $18 apiece.

Vedanta Resources last year launched CopperTech Metals, which owns and operates Konkola Copper Mines in ‌Zambia's Copperbelt province.


Citigroup and Cantor are joint ​book-running ​managers ⁠for the offering.

CopperTech will list on the New York Stock ​Exchange under the symbol "CUX."