Kaz Minerals was unable to find enough investors to support its endeavor.
Reuters reports that Kazakhstan-focused Kaz Minerals is terminating its secondary listing in Hong Kong due to a marked lack in investor appetite.
Only a small number of shareholders have bought their stock on the Hong Kong register since it listed in 2011, the company said.
Trading in Kaz Minerals’ Hong Kong shares, which represent only 0.03 of the company’s total equity, will stop on July 11 and the listing will be withdrawn on Aug. 1.
This follows a pullout by commodities trader and miner Glencore who announced plans to withdraw its listing from Hong Kong amidst a lack of investor interest.
Here’s more from Reuters:
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