Sinda’s $213 Million IPO

Cleary Gottlieb represented the underwriters, led by Morgan Stanley & Co. LLC, Scotia Capital (USA) Inc., and BMO Capital Markets Corp., in the $213 million initial public offering and $94 million concurrent private placement of Sinda Ltd. (Sinda).

Canaccord Genuity LLC, Citigroup Global Markets Inc., and RBC Capital Markets LLC acted as joint bookrunners.

Sinda offered 17.75 million of its shares of common stock at an initial offering price of $12 per share. In connection with the offering, it also entered into a common stock purchase agreement with Fresnillo plc (Fresnillo) for a concurrent placement at a purchase price of $12 per share, and after which Fresnillo would beneficially own 5% of the issued and outstanding shares of Sinda.

The offering priced on June 25, 2026, and closed on June 29, 2026. Sinda’s common stock began trading on the New York Stock Exchange on June 26, 2026, under the ticker symbol “SIND.”

Sinda is a silver exploration and development company with mineral projects in Mexico, whose property currently spans approximately 6,232 contiguous hectares in Mexico’s world-famous epithermal silver belt.

For more information, please see the press release.

The Cleary capital markets team was led by partners Lesley Janzen and Jorge Juantorena and associates Jose Andres de Saro, Omelebele Edeoga, and Jean Choi, with support from associate Katherine Hebb and law clerk Ville Latola. Partner Jonathan Mendes de Oliveira advised on mining disclosure matters. Partner Matthew Brigham and associates Nathaniel Pribil and Yoolim Lee advised on tax matters. Partner Amanda Toy and associates Jisoo Park and Makesi Buddy advised on executive compensation and employee benefits matters. Partner Samuel Chang and associate Kerry Mullins advised on sanctions matters. Senior attorney James Corsiglia advised on regulatory matters. Partner Michael Sanders advised on anti-money laundering matters. Partner Beau Sterling and associate Madison Bush advised on environmental matters.