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Zijin Gold International seeks $2.49B Hong Kong IPO
The company said proceeds will be used for the upgrades of existing mines.
Zijin Gold International is aiming to raise $24.98b ($3.21b) in a Hong Kong initial public offering by selling 349 million shares at an offer price of $71.59 apiece.
The company said that it is planning to use the proceeds over the next five years for the upgrade and construction project of existing mines.
Moreover, the spin-off and independent listing of Zijin Gold International will broaden the company’s financing channels and improve overall financing efficiency.
It will commence 29 September with Morgan Stanley and CITIC Securities as the joint sponsors.
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