Zijin Gold launches $3.2bn Hong Kong IPO, city's largest in 2025
Zijin Gold International, a wholly owned unit of China's Zijin Mining, is aiming to raise HK$24.98-billion in a Hong Kong IPO, in what will be the largest in the city this year, according to its prospectus released on Friday.
Zijin Gold is selling 349-million shares at an offer price of HK$71.59 apiece, with trading to commence on the exchange on September 29, the prospectus showed. The deal will value Zijin Gold at $24.1-billion.
The initial public offering comes as gold, which tends to perform well in low-interest rate environments and during periods of uncertainty, has gained nearly 39% so far this year.
Zijin Gold's IPO is set to overtake Chinese automaker Chery's offering this week that aims to raise up to $1.2-billion and become the largest in Hong Kong this year.
Hong Kong's capital market activity has been driven mainly by companies listed in mainland China making Hong Kong share sales.
Battery company CATL, which was already listed on the Shenzhen Stock Exchange, raised $4.6-billion in May — in Hong Kong's largest listing at the time.
Zijin Gold, which operates all of Zijin Mining's gold mines outside of China, said in the prospectus that it is planning to use the proceeds over the next five years for the upgrade and construction projects of existing mines to fully enhance its production capabilities, among others.
Cornerstone investors have subscribed for about $1.6-billion worth of shares in the deal, according to the prospectus.
Singapore wealth fund GIC and private equity firm Hillhouse will buy $150-million worth of shares each in the IPO. Asset managers BlackRock and Schroders will take $120-million worth each, the prospectus showed.
Morgan Stanley and CITIC Securities are the joint sponsors of the offering.
Comments
Research Reports
Projects
Latest Multimedia
Latest News
Showroom
For over 30 years, Werner South Africa Pumps & Equipment (PTY) LTD has been designing, manufacturing, supplying and maintaining specialist...
VISIT SHOWROOM
Weir is a global leader in mining technology. We recognise that our planet’s future depends on the transition to renewable energy, and that...
VISIT SHOWROOM
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
