Yahoo Finance·2025-09-19 11:20Group 1 - Zijin Gold International, a subsidiary of Zijin Mining, is raising HK$24.98 billion through an IPO in Hong Kong, offering 349 million shares at HK$71.59 each, with trading starting on 29 September [1] - The IPO values Zijin Gold at approximately $24.1 billion and occurs during a period when gold prices have increased nearly 39% this year [1] - This IPO will be the largest in Hong Kong for 2025, surpassing the recent $1.2 billion IPO by Chery [2] Group 2 - Proceeds from the IPO will be used over the next five years to upgrade and build mines to enhance production capacity [2] - Cornerstone investors have committed to purchasing around $1.6 billion in shares, including GIC and Hillhouse, each acquiring $150 million [3] - Morgan Stanley and CITIC Securities are acting as joint sponsors for the offering [3] Group 3 - The spin-off and independent listing of Zijin Gold is expected to diversify financing channels and improve overall financing efficiency for Zijin Mining [4] - In June, Zijin Mining agreed to acquire the Raygorodok gold mine in Kazakhstan for $1.2 billion [4]