Canada's Magma Energy Corp, a geothermal power company active in the western United States and South America, has raised C$100 million ($87 million) in an initial public offering taken up by investors around the world, sources close to the deal told Reuters.

The deal saw Magma, which has one operating power generation plant and several advanced-stage exploration properties, sell 66.667 million shares at C$1.50 each.

The shares will start trade under the symbol MXY.TO on the Toronto Stock Exchange on July 7.

The deal was led by Raymond James Ltd and Cormark Securities Inc and had a global book, with 45 percent of the deal in Canada, 30 percent in the United States, and 25 percent in Europe and Asia.

Other members of the syndicate are Canaccord Capital Corp, National Bank Financial Inc, Dundee Securities Corp, Jacob & Company Securities Inc and Wellington West Capital Markets Inc.

The preliminary prospectus was was filed on June 1 with the hope of raising about $50 million.

The book was about three times oversubscribed, said one source with knowledge of the deal.

($1=$1.15 Canadian) (Reporting by Pav Jordan; editing by Peter Galloway)