July 7, 2011 / 8:18 PM / 7 years ago

UPDATE 1-Sunshine Silver Mines files for IPO of up to $250 mln

* UBS, Morgan Stanley, RBC Capital to underwrite IPO

* Intends to list shares on NYSE under symbol ‘AGS’ (Follows alerts)

July 7 (Reuters) - Sunshine Silver Mines Corp filed with U.S. regulators on Thursday to raise up to $250 million in an initial public offering of its shares.

In a filing with the U.S. Securities and Exchange Commission, the Denver, Colorado-based miner said UBS Investment Bank, Morgan Stanley and RBC Capital Markets would be underwriting the offering.

The company said it intends to list its shares on the New York Stock Exchange under the symbol “AGS.”

The filing did not reveal the number of shares the company planned to sell or their intended price.

Sunshine Silver, which currently controls a portfolio of 19 exploration properties in the United States and Mexico, plans to use the proceeds of the IPO to develop its mines, increase the number of its exploration drills and buy additional prospective mineral and surface rights.

The amount of money a company says it plans to raise in its first IPO filing is used to calculate registration fees. The final size of the IPO can be different. (Reporting by Jochelle Mendonca in Bangalore; Editing by Joyjeet Das)

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