The Qatar Investment Authority, the sovereign wealth fund for the State of Qatar, intends to invest at an estimated $ 500 million in the capital of Ivanho Mainz. Under this investment, the Ivanho Mainz company, which is listed on the Toronto Stock Exchange, will issue 57,516,666 normal shares for the Qatar Investment Authority, through a special offering of a price of $ 12 for one share, which gives the company a total flow of revenues of approximately $ 500 million. With this deal, the Qatar Investment Authority will have 4 percent of the regular exported shares of Evanho Mainz.
The company said, in a statement that it intends to use the revenues of this investment to support growth opportunities associated with exploration, development and exploration of biological minerals “rare minerals”.
“Besides this strategic investment, the Qatar Investment Authority’s conviction reflects the Ivanho Mainz portfolio of the first -class global assets, it – and most importantly – also reflects our commitment to supporting the company’s work teams in exploring, developing and providing biomers in a sustainable manner, which is necessary for energy transformation in the world and for advanced technology applications.”
For his part, Mr. Robert Friedland, co -CEO of Evanho Mainz, said: “This important investment by the Qatar Investment Authority represents a strong confirmation of the vision of Ivanhoe Mines to be a leading resource for biological minerals that will lead the electrical transformation process of the global economy, the development of new energy infrastructure, and the growth of advanced technologies such as huge databases and artificial intelligence.”
He added: «The future vision of the Qatar Investment Agency is fully in line with our vision and with the visions of our other strategic partners in the long term. We are also looking to build this partnership together for years to come. The Evanho Mainz trip is still in its infancy, as we continue to search all over the world for discoveries and opportunities to develop new first -class mines. The Investment of the Qatar Investment Authority will have a pivotal role in opening new horizons.
The completion of this investment deal is subject to the fulfillment of the usual conditions in this type of deals, including the approvals for the Toronto Stock Exchange, and upon its completion, both the Qatar Investment and Ivanho Mainz Company will conclude the investor rights agreement, which gives the Qatar Investment Authority usual rights in such deals, including representation in the company’s board of directors, and the rights to obtain information if its ownership rate exceeds 10 in The hundred, in addition to the rights to protect against the value of the value of the stock (Anti-Dailation), and the agreement also imposes on the transfer of the transfer of stock ownership by the agency.