Zijin Gold eyeing to raise US$3b through IPO in Hong Kong

This may potentially be this year’s second biggest listing globally.

Zijin Gold International, a public spin-off of Zijin Mining Group, is set to raise more than $23.4b (US$3b) in its planned Hong Kong listing, according to a report by Bloomberg.

The plans for the initial public offering (IPO) are still subject to change as deliberations are still ongoing.

This US$3b IPO is forecasted to be the biggest globally since the Chinese battery giant Contemporary Amperex Technology Co. Ltd. (CATL) raised US$5.3b in its Hong Kong offering in May.

Proceeds from the listing would be used for debts incurred from the expansions and for increased funding requirements.

Zijin is the third biggest metals mining company in the world by market value. It wants to boost output from gold mines that span Central Asia to Africa and Latin America.

$1 = US$0.13