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Shares in China's Zijin Gold rise 66% in Hong Kong trading debut
Zijin Gold's $3.2 billion IPO is the world's second-largest this year, supported by strong gold prices and a 695% surge in Hong Kong IPO market activity, officials said.
- Last week, Zijin Gold International debuted in Hong Kong, raising nearly 25 billion Hong Kong dollars and seeing shares rise about 66% on debut.
- As part of a wider corporate restructuring, Zijin Mining created Zijin Gold to manage its overseas gold operations across Central Asia, South America, Oceania and Africa.
- The IPO sold 349 million shares at HK$71.59 per share, with the retail tranche 241 times oversubscribed and cornerstone investors including GIC, Hillhouse's HHLRA and BlackRock Funds.
- The listing builds on a resurgence in Hong Kong's IPO market, which raised about $14.1 billion this year, while Zijin Gold shares hit HK$119 and the Hang Seng Index rose 0.8%.
- With spot gold above $3,800 and bullion at $3,842.76 per ounce, the IPO ranks as the world's second-largest this year after CATL and could rival Kuaishou Technology $6.2 billion with overallotment.
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China's Zijin Gold shares soar more than 60% in Hong Kong debut
HONG KONG: Shares in China's Zijin Gold International surged more than 60 per cent on its debut in Hong Kong on Tuesday (Sep 30) after raising more than US$3 billion in one of the world's biggest initial public offerings (IPO) this year.The blockbuster opening comes as gold prices continue to hit record highs
·Singapore
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Shares in China's Zijin Gold rise 66% in Hong Kong trading debut
Shares of China's Zijin Gold International rose as much as 66% in their Hong Kong trading debut on Tuesday after the company raised $3.2 billion in an initial public offering (IPO), the largest in the city for four years.
·United Kingdom
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Coverage Details
Total News Sources17
Leaning Left2Leaning Right4Center5Last UpdatedBias Distribution46% Center
Bias Distribution
- 46% of the sources are Center
46% Center
L 18%
C 46%
R 36%
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