* Sells 66.667 mln shares at C$1.50 each
* International book three times oversubscribed
* Shares to trade under symbol MXY.TO (Adds analyst comments, IPO details)Canada's Magma Energy Corp, a geothermal power company active in the western United States and South America, has raised C$100 million ($87 million) in an initial public offering taken up by investors around the world, sources close to the deal told Reuters.
The deal, spearheaded by Magma chairman and mining guru Ross Beaty, is the largest of its kind in Canada so far this year and will supply Vancouver, British Columbia-based Magma with the funds it needs for expansion and exploration programs at late- and early-stage projects in the United States, Argentina, Chile and Peru.
Under the terms of the IPO, Magma sold 66.667 million shares at C$1.50 each.
Magma shares will start to trade under the symbol MXY.TO on the Toronto Stock Exchange on July 7....MORE