Sinda Ltd. (SIND), an exploration-stage silver mining company in Mexico, priced its IPO at $12.00 – below the mid-point and toward the low end of its $11.25-to-$13.25 price range – and sold 17.75 million shares – the number of shares in the prospectus – to raise $213 million on Thursday night, June 25, 2026. Sinda’s IPO pricing date was accelerated to Thursday night, June 25, from its original spot on next week’s large roster of deals set to price on Tuesday night, June 30th.
Sinda’s stock fell in its NYSE debut today – Friday, June 26, 2026 – opening at $10.80 – down $1.20 for a 10 percent drop from its IPO price . In afternoon trading on the New York Stock Exchange, Sinda’s stock was at $11.70 – just 1 cent below its session high so far and 30 cents below its IPO price – on volume of 1.6 million shares.
At the closing bell, Sinda’s stock had edged up to $12.00 – finishing flat with its IPO price on Friday, June 26, its first day of NYSE trading on volume of about 2.33 million shares.
Morgan Stanley and Scotiabank led the joint book-running team, which included BMO Capital Markets, Canaccord Genuity, Citigroup and RBC Capital Markets.
Sinda Ltd. is developing the Sinda Property in Mexico’s silver belt near San Miguel de Allende in Mexico’s state of Guanajuato, about 180 miles northwest of Mexico City.
The company has “not yet created a mine plan or started production,” the prospectus said.
Silver is in demand due to its use in the solar panel industry, electric vehicles (EVs), electronics, energy storage systems and AI-related infrastructure projects.
The Electrum Group, a natural resources investment firm, will still own most of Sinda Limited’s stock after the IPO, according to the prospectus.
Cornerstone investor Franco-Nevada, a gold royalty company, had indicated an interest in buying up to $10 million in stock in the IPO, according to the prospectus.
Fresnillo, a leading silver producer, had indicated an interest in buying up to $110 million of Sinda’s stock in a concurrent private placement – and as a result, Fresnillo would own 5 percent of the company’s outstanding stock, the prospectus said.
Sinda Ltd. is not profitable – and it does not have any revenue – typical for an exploration-stage mining company. For the 12 months that ended on March 31,2026, Sinda Ltd. reported a net loss of $27.72 million on no revenue, according to the prospectus.
(For more information about this company, please check the IPO Calendar and the individual IPO Profile found on the IPOScoop.com website.)
Note: Never trade on proposed symbols. They have been known to change and you might buy something on the OTC Bulletin Board.
To see what time the NASDAQ IPOs are expected to trade, please log in to: NASDAQTrader.com then scroll down to IPO Message.
Disclosure: Nobody on the IPOScoop.com staff has a position in any stocks mentioned above, nor do they trade or invest in IPOs. The IPOScoop.com staff does not issue advice, recommendations or opinions.