Mining firm Sinda on Friday filed for a US initial public offering, marking billionaire investor Thomas Kaplan’s second push into public markets after Sunshine Silver’s listing a day earlier, as interest in IPOs rebound.
The terms of the offering were not revealed in the filing.
Activity in the US IPO market shot up in 2026, with a multitude of sectors looking to go public and capture the investor enthusiasm for fresh listings.
Elon Musk’s SpaceX is expected to start trading in New York next week, in what is set to be the largest IPO in history. AI giant Anthropic also confidentially filed to go public last week.
Mining firms are also joining the surge, with CopperTech Metals filing for a New York listing on Tuesday. Sunshine Silver Mining went public on the New York Stock Exchange on Thursday.
Sinda and Sunshine Silver Mining are portfolio companies of The Electrum Group, a natural resources-focused investment firm. The company is led by founder and chairman Thomas Kaplan, a prominent investor in precious metals and natural resource assets.
Sinda holds exploration and exploitation rights to five contiguous mining concessions in Mexico’s historic Guanajuato silver belt, it said in its filing.
The company describes the project as a high-grade, large-scale silver-gold greenfield discovery with the potential for globally significant production.
The company intends to use the proceeds from the IPO for exploration and underground development, and for other ongoing project costs.
The mining company reported a net loss of $11.6 million in the three months ended March 31, compared with $2.6 million loss a year ago as its exploration expenses increase.
Morgan Stanley, Scotiabank and BMO Capital Markets are the joint book running managers on Sinda’s offering. The company intends to list its shares on the NYSE under the ticker symbol “SIND”.
(By Pritam Biswas)
