Sedibelo Resources, a platinum group metals miner in South Africa, withdrew its plans for an initial public offering on Tuesday. The Johannesburg, South Africa-based company originally filed in July 2022 with a proposed deal size of $100 million, and had planned to list on both the NYSE and the Johannesburg Stock Exchange. The company had not updated its prospectus since September 2022.
Sedibelo Resources was founded in 1999 and booked $191 million in revenue for the 12 months ended June 30, 2022. It had planned to list on the NYSE under the symbol SED. Evercore ISI, J.P. Morgan, and RBC Capital Markets were set to be the joint bookrunners on the deal.
