Jiaxin G-RESOURCES (03858) will be conducting an IPO from August 20th to August 25th, intending to globally issue 110 million shares and bring in cornerstone investors such as CITIC Securities and Shandong Gold Group.

Jiaxin G-RESOURCES (03858) will conduct a public offering from August 20, 2025 to August 25, 2025, intending to globally sell 110 million shares, with approximately 10% sold in Hong Kong and approximately 90% sold internationally, with an additional 15% oversubscription option. The offering price will be HK$10.92 per share, with each lot consisting of 400 shares. It is expected that trading of the shares will begin on the Hong Kong Stock Exchange on August 28, 2025 at 9:00 am Hong Kong time. The group is a tungsten mining company rooted in Kazakhstan, focusing on the development of the group's Bakuta tungsten mine project. According to Frost & Sullivan data, as of December 31, 2024, it is one of the world's largest open-pit tungsten (WO3) mineral resources. The Bakuta tungsten mine project of the group is also the fourth largest WO3 mineral resource tungsten mine in the world (including open-pit and underground tungsten mines) as of December 31, 2024, with the largest designed tungsten mining capacity in a single tungsten mine in the world. In the previous reporting period, the group mainly focused on preparing for the commercial production of the Bakuta tungsten mine project. The first phase of commercial production of the Bakuta tungsten mine project started in April 2025, with a target annual mining and mineral processing capacity of 3.3 million tons of tungsten ore in 2025. The group has entered into cornerstone investment agreements with CHINA CINDA (Hong Kong) Asset Management Limited (Cinda), Singapore Lu Yin Trading Co., Ltd., GF Fund Management and GF International Asset Management (referred to as GF Fund), Rich World Hong Kong and Rich World Fund, and Zhengxin Group Investment Limited (Zhengxin) (collectively referred to as "cornerstone investors") under which the cornerstone investors have agreed, under certain conditions, to subscribe at the offering price or cause their designated entities to subscribe for a number of offered shares representing approximately 76.38 million US dollars (calculated at a conversion rate of 1.00 US dollar to 7.8498 Hong Kong dollars) (rounded down to the nearest full trading unit of 400 shares per lot) (cornerstone allocation). Based on the offering price of HK$10.92 per share, the total number of offered shares that the cornerstone investors wi...