China’s Zijin Gold soars 60% in Hong Kong debut
On Thursday, August 24, 2023, Serbia is a sign outside the Zijin Mining Complex in Bor, Serbia.
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While the Chinese miner’s unit trade in Hong Kong, Zijin Gold shares rose by more than 60% on Tuesday.
Company raised Approximately 25 billion Hong Kong Dollar (Approximately 3.2 billion dollars) was priced as $ 71,59 HKD with shares, which was the second largest public offering in the world after the battery giant Catl’s list earlier this year.
Zijin Gold, which was delayed one day due to the impact of the super Typhoon Ragasa on Hong Kong last week, comes at a time when the yellow metal recorded record levels. Spot Gold recently exceeded $ 3,800 per ounce due to strong safe demand, ratio deductions expectations and global economic uncertainty.
The list is based on a revival that collects approximately $ 14.1 billion in the first half of this year in the public offering market of Hong Kong this year. 695% increase annually from the same period in 2024.
Zijin Gold is the overseas gold mining branch of China, which operates all gold mines of China, all gold mines except China. Among the great investors in the public offering were Singapore’s Egemen Servet Fund, Hillhouse’s Hhlra and Blackrock funds.
Zijin mining, The largest mined gold manufacturer in Chinahad announced In April It will open overseas gold operations to the golden unit as part of a wider restructuring aiming to sharpen the golden focus.
The group’s global footprint covers Central Asia, South America, Oceania and Africa. It enters the full value chain of gold mining from discovery and development to processing, melting, refined and sales.
In 2024, Zijin mining produced 1.3 million ounces (40.4 tons) gold, according to the company’s forecasts, and took ninth globally.
