Mexican silver exploration firm Sinda submitted documents to the U.S. Securities and Exchange Commission (SEC) last Friday, aiming to raise up to $100 million through an initial public offering (IPO).

The company plans to list on the New York Stock Exchange under the ticker symbol "SIND".

Established in 2012, Sinda is a silver mining company in the exploration phase, operating in the state of Guanajuato, Mexico.

To date, its activities have primarily involved exploration drilling and geological assessment of the Sinda property.

The confirmed mineralized zones at this property extend for a total length of approximately 182 kilometers.

Backed by natural resources investment firm The Electrum Group, the company currently has no mine development plan in place and has not commenced production.

Sinda has not yet generated any revenue and has relied on funding from its founding shareholders to support its exploration work.