New stock news | It is reported that Zijin Gold International will be listed as early as tomorrow, raising 23.4 billion Hong Kong dollars in funds, with Blackrock and other cornerstone investors.

Zijin Hong Kong Gold International passed the HKEX Main Board listing hearing on September 14th. It is reported that Zijin Hong Kong Gold International will start accepting subscriptions on Friday (September 19th), with a fundraising scale exceeding US $3 billion (approximately HK $23.4 billion). Institutional investors such as Singapore sovereign wealth fund GIC, Millennium Management, and Hillhouse Capital will participate in the Hong Kong IPO of Zijin Hong Kong Gold International. Insiders said that BlackRock, Fidelity International, and Baillie Gifford & Co are also cornerstone investors in Zijin Hong Kong Gold International, expecting to receive approximately half of the IPO shares. Zijin Mining Group previously announced that in order to promote the internationalization of its gold business, it will reorganize its overseas gold mining assets to its wholly-owned subsidiary in Hong Kong, "Zijin Hong Kong Gold International," and apply for a listing in Hong Kong. Zijin Hong Kong Gold International officially submitted its listing application to the Stock Exchange of Hong Kong in June this year, with Morgan Stanley and CITIC Securities serving as joint sponsors for Zijin Hong Kong Gold International. At the end of August, Zijin Mining Group announced that H-share shareholders of Zijin Mining Group will receive an initial subscription quota of 5% as a guarantee. Zijin Hong Kong Gold International's gold sales revenue in 2024 reached US $2.81 billion, a year-on-year increase of 29.8%, with total annual revenue of US $2.99 billion, up 32.2%. The net profit attributable to the owners of the parent company was US $480 million, a year-on-year increase of 108.9%. Zijin Hong Kong Gold International expects that the funds raised will be used to pay for the acquisition of the Raygorodok gold mine in Kazakhstan; upgrade and develop existing mines in the next five years, significantly increase production capacity; carry out exploration activities for all operational mines; and for general corporate purposes. The prospectus shows that Zijin Hong Kong Gold International is one of the fastest-growing companies in the global gold mining industry. Starting from the acquisition of the Jilau/Taror gold mine in Tajikistan in 2007, the company has expanded its business through global acquisitions and the operation, strengthening, and expansion of multiple large gold mines. According to data from Frost & Sullivan, as of December 31, 2024, Zijin Hong Kong Gold International ranks ninth in global gold reserves and eleventh in gold production in 2024. The compound annual growth rate of gold production from 2022 to 2024 reached 21.4%, and the compound annual growth rate of net profit attributable to the owners of the parent company was 61.9%.