HK Stock Market Move | LYGEND RESOURCE (02245) rose over 6% in the afternoon; its A-share IPO online subscription was hot; the company is a leading enterprise in the global nickel industry chain.

LYGEND RESOURCE (02245) rose over 6% in the afternoon. As of press time, it was up 6.42% at HK$18.23, with a turnover of HK$44.9764 million. On the news front, on September 18, LYGEND RESOURCE completed the online subscription for its A-share IPO. On the evening of September 20, the company released an announcement on the online subscription results and allotment rate. Data showed that the number of valid online subscription accounts for this offering was approximately 17.146 million, with approximately 326.423 billion valid subscription shares, and the preliminary effective subscription multiple reached as high as 6,293.47 times, triggering the clawback mechanism. After the clawback, the final online offering size increased to 121 million shares, with an allotment rate of approximately 0.037%, and a final effective subscription multiple of 2,697.20 times. Public information shows that LYGEND RESOURCE is a leading enterprise in the global nickel industry chain. The proceeds from this A-share offering will be fully invested in its main business, with a total planned investment amount of RMB 4.047 billion, directed toward the wet-process slag resource utilization demonstration project and the MHP refining production project in the Obi Island Industrial Park in Indonesia. The two projects are expected to complete construction in the first quarter of 2028. LYGEND RESOURCE stated in its prospectus that after the implementation of the fundraising projects, it will strengthen the company's leading position in the global nickel industry and further expand its business across the entire nickel industry chain.