Market Chatter: Zijin Gold Raises Hong Kong IPO Target to At Least $3 Billion

MT Newswires Live

Sep 04

Zijin Gold International, being spun off from Zijin Mining (HKG:2899), is expected to raise at least $3 billion, or HK$23.4 billion, in a Hong Kong initial public offering, The Standard reported Wednesday, citing IFR.

The planned fundraising is about 50% higher than the company's earlier $2 billion target, according to the report.

Proceeds will be used to repay a loan for the acquisition of Kazakhstan's Raygorodok gold mine, as well as to upgrade and build projects aimed at boosting production capacity and exploration, the report added.

Morgan Stanley and CITIC Securities (HKG:6030, SHA:600030) are reportedly the joint sponsors of the listing.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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This information is believed to be from reliable sources but may include rumor and speculation. 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This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"LU0370786039.SGD","symbol_name":"Fidelity Greater China A-SGD","start_time":0,"source_url":"https://www.mtnewswires.com/","article_id":"2564349745","we_media_id":"1092851196","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2564349745","pubTimestamp":1756951515,"columns":[],"sourceInfo":{"source_id":"mtnewswires_news","name":"MT Newswires"},"weMediaInfo":{"media_name":"MT Newswires Live","introduction":"The most recognized names in North America, Europe and Asia rely on MT Newswires to power their applications. 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