Mexico's Fresnillo raises $1.77 bln in London IPO

LONDON, May 9 (Reuters) - Fresnillo Ltd (FRES.L: Quote, Profile, Research), the world's biggest silver producer, said on Friday it was raising 905 million pounds ($1.77 billion) in an initial public offering priced at 555 pence a share.

Sources close to the matter told Reuters last month that the Mexican firm, which is being floated by parent Penoles (PENOLES.MX: Quote, Profile, Research), hoped to float its shares at between 555 pence and 700 pence. (Reporting by Mark Potter, editing by Will Waterman)