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OceanaGold makes lackluster market debut

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Australian-Canadian mining company OceanaGold Philippines Inc. saw a lackluster market debut yesterday after its share price dropped by more than six percent.

Photo shows OceanaGold Inc.

OGPI, the market’s IPO curtain raiser this year, marked the first public listing of a mining firm in the Philippine Stock Exchange in more than a decade. Limlingan added that recent volatility of commodity prices in the world market could also have been a factor to the drop in OGPI’s share price. OGPI, a wholly owned subsidiary of Australian-Canadian firm OceanaGold Corp., raised P6.08 billion from the IPO.

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