Peruvian copper producer Southern Peru Copper is going public.
The company has filed a registration statement with the Securities and Exchange Commission in Washington, D.C., related to the proposed sale (an initial public offering) of up to 18.4 million shares, representing 28% of the outstanding capital stock.
Two of the founding stockholders — Cerro Trading (a subsidiary of The Marmon Group), with a 20.7% interest, and Newmont Gold (NYSE), with a 10.7% interest — will sell their shares.
The other two founding stockholders are Asarco (NYSE), with a 52.3% interest, and Phelps Dodge Overseas Capital Corp., with a 16.3% interest. Southern Peru plans to list on the New York Stock Exchange.
The company, which operates two mines and smelting and refining facilities in southern Peru, produced 265,000 tons copper and 2.8 million oz. silver in 1993.
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