KEY POINTS
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Barrick has filed for an IPO of American Barrick Gold in New York.
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The new company will include Nevada Gold Mines and Pueblo Viejo.
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Barrick will retain majority ownership and receive $1.2 billion in annual dividends.
Canada-based Barrick Mining has filed for an initial public offering (IPO) of its North American gold business in New York, setting the stage for one of the most closely watched listings in the global gold mining industry in recent years.
The proposed listing, announced in filings submitted to the United States Securities and Exchange Commission (SEC), will see the new company, American Barrick Gold, listed on the New York Stock Exchange under the ticker symbol ABGC.
The move is part of Barrick Mining’s plan to separate its North American operations from its wider international business while retaining majority ownership of the new entity.
American Barrick Gold targets early 2027 listing
American Barrick Gold is expected to launch its IPO by early 2027, according to Mark Hill, who will lead the company as chief executive officer.
Goldman Sachs, BofA Securities and RBC Capital Markets have been appointed as underwriters for the offering, according to the SEC filings.
The IPO is expected to attract considerable attention from investors, given the scale of Barrick’s mining operations and the importance of North American gold production to the global market.
However, the filings did not disclose the proposed market valuation of American Barrick Gold or the number of shares that will be offered to investors.
Barrick to retain majority stake
Under the proposed arrangement, Barrick Mining will retain a majority of American Barrick Gold’s common shares after the IPO.
The Canadian mining company will also receive an annual dividend of $1.2 billion from the new business, payable in quarterly instalments.
The separation is intended to give American Barrick Gold a distinct corporate identity while allowing its parent company to maintain significant financial and ownership interests in the North American operations.
Barrick Mining currently holds assets across North America, Africa, Latin America and the Asia-Pacific region. The proposed restructuring will separate selected North American operations from its wider international portfolio.
Nevada and Dominican Republic assets included
American Barrick Gold will comprise Nevada Gold Mines and the Pueblo Viejo mine in the Dominican Republic.
The SEC filings put the new company’s total book equity at $20.8 billion, although this figure represents its accounting value rather than an IPO market valuation.
By comparison, Barrick Mining’s market capitalisation stood at approximately $65 billion at the time of the report.
The proposed listing follows earlier discussions about restructuring the mining group. Reuters first reported in November 2025 that Barrick was considering splitting its operations after former chief executive Mark Bristow left the company.
Barrick shares fall after filing
Barrick Mining’s shares closed 5.61 per cent lower on the Toronto Stock Exchange on Tuesday, the day of the latest announcement.
The market reaction came as investors assessed the proposed separation and its potential implications for the company’s ownership structure, future earnings and dividend arrangements.
The IPO is expected to provide investors with a direct opportunity to buy into the North American business, while Barrick Mining retains control through its majority shareholding.
