SYDNEY -- Brazilian Rare Earths (BRE), a mineral exploration company backed by Australia's richest mining magnate, ended its first trading day on the Australian Securities Exchange up nearly 9%.
Founded in 2021, BRE raised 50 million Australian dollars ($33.7 million) in its initial public offering, with 34 million shares offered at AU$1.47 apiece. The stock ended the day at AU$1.60, giving the company a market capitalization of AU$342.5 million.
