The three major shareholders of Cominco (TSE) recently increased their ownership of the major base metal producer. MIM (Canada) Inc., a subsidiary of MIM Holdings, reported buying, for itself and the two other firms, a total of more than one million shares of Cominco at $22.90 per share from Mitsui Mining and Smelting Co. MIM is a 25% partner in the share purchase, with Teck (TSE) a 50% partner and Metall Mining (TSE) a 25% partner.
Teck, MIM and Metall now own a combined 12.8 million shares, or 16.1%, of Cominco. In addition, Nunachiaq Inc. (owned 50% by Teck and 25% by each of MIM and Metall) indirectly owns 22 million shares, or 27.7%, of Cominco.
Combined, Teck, MIM, Metall and Nunachiaq own 34.8 million, or 43.8%, of Cominco’s outstanding shares.
The three major shareholders of Cominco (TSE) recently increased their ownership of the major base metal producer. MIM (Canada) Inc., a subsidiary of MIM Holdings, reported buying, for itself and the two other firms, a total of more than one million shares of Cominco at $22.90 per share from Mitsui Mining and Smelting Co. MIM is a 25% partner in the share purchase, with Teck (TSE) a 50% partner and Metall Mining (TSE) a 25% partner.
Teck, MIM and Metall now own a combined 12.8 million shares, or 16.1%, of Cominco. In addition, Nunachiaq Inc. (owned 50% by Teck and 25% by each of MIM and Metall) indirectly owns 22 million shares, or 27.7%, of Cominco.
Combined, Teck, MIM, Metall and Nunachiaq own 34.8 million, or 43.8%, of Cominco’s outstanding shares.
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