Chifeng Jilong Gold Mining (06693) starts IPO today with Zijin Mining Group (02899) and ZHAOJIN MINING (01818) as cornerstone investors introduced.

Chifeng Jilong Gold Mining (06693) will be listed from February 28, 2025, to March 5, 2025. The company plans to globally issue 2.05652 billion H shares, with 10% for public offering in Hong Kong and 90% for international offering. There is also a 15% adjustment right for the issuance volume and a 15% oversubscription right. The offering price per share is between 13.72 and 15.83 Hong Kong dollars, with each lot consisting of 200 shares. It is expected that the H shares will begin trading on the Hong Kong Stock Exchange on March 10, 2025 (Monday). The announcement stated that the company has entered into cornerstone investment agreements with Jinshan (Hong Kong) International Mining Co., Ltd. and Splash International Limited. Jinshan (Hong Kong) International Mining Co., Ltd. and Splash International Limited will subscribe for approximately 311 million Hong Kong dollars and 434 million Hong Kong dollars of the offering shares, respectively. Jinshan (Hong Kong) International Mining Co., Ltd. is a wholly-owned subsidiary of Zijin Mining Group (02899), and Splash International Limited is ultimately controlled by ZHAOJIN MINING (01818). Assuming that the adjustment right for the issuance volume and oversubscription right are not exercised, the offering price per share will be 14.78 Hong Kong dollars. The global offering is expected to raise approximately 2.887 billion Hong Kong dollars, with 50% for upgrading and exploration of existing mines, 40% for potential acquisitions, and 10% for general corporate purposes. It is reported that the company is mainly engaged in the business of gold mining, selection, and sales. As of the last feasible date, the company owns and operates 7 gold and multi-metal mines located in China, Southeast Asia, West Africa, and other parts of the world; it holds a total of 12 valid mining licenses in China. In the years 2021 to 2023, the company achieved revenues of approximately 3.783 billion, 6.267 billion, and 7.221 billion respectively; net profits attributable to the parent company were approximately 582 million, 451 million, and 804 million respectively. In the first 9 months of 2024, the company achieved revenue of approximately 6.223 billion and a net profit attributable to the parent company of approximately 1.115 billion.