Agnico Eagle says it is not interested in participating in Barrick’s North American IPO
TORONTO - Canadian gold miner Agnico Eagle is not interested in participating in Barrick Mining's proposed North American initial public offering (IPO), Agnico CEO Ammar Al-Joundi said in an interview on Tuesday. "It would not make sense for us to buy into their North America IPO...," Al-Joundi said.
"Strategically we have our own business and it is looking pretty good," he said, adding that it is not a question of valuation or whether it is a good deal or not. When asked if Agnico would at some point in future attempt to acquire the Nevada assets of Barrick, Al-Joundi said it is up to the Barrick board and management to decide what they want to do going forward.
Barrick declined to comment.
Agnico Eagle is in the world's top three gold producers. Barrick, which is Canada domiciled, is looking to launch a public listing of its North America business, by proposing to sell 10-15% equity. The proposed IPO is aiming for a dual listing in New York and Toronto.
Agnico Eagle's share prices have outperformed its peers this year that has put the company as one of the contenders to make big ticket acquisitions. In 2026, Agnico Eagle share prices have gained 15% making it one of the preferred large gold companies among institutional investors.
