Zijin gold is 60 % in Hong Kong for the first time

Gold Zagi The stocks rose more than 60 % on Tuesday, when the Chinese mining unit appeared for the first time in Hong Kong.

The company raised Almost $ 25 billion Hong Kong (About $ 3.2 billion) with shares at $ 71.59 HKD, making it the second largest preliminary general offer in the world after the Catl giant battery list earlier this year.

For the first time in Zijin Gold, which was one day late due to the effect of Super Typhoon Ragasa on Hong Kong last week, comes at a time when the yellow metal was achieving a record record amid strong demand in the safe term, price discounts, and global economic uncertainty.

Theodore Show, chief investment official at Skybound Capital, said that gold prices pick up Steam in recent weeks, which were “good timing” for Zijin Gold. Gold spot It has reached the highest new level ever of $ 3,839.19 an ounce on Tuesday.

“This excitement about gold is now spread through gold mining workers, which helps them to achieve a great evaluation,” he said.

The Zijin Gold list is based on a return in the Hong Kong public subscription market this year, which combined about $ 14.1 billion in the first half of this year, a An increase of 695 % year on the same period in 2024.

The company is the mining arm abroad in China partially owned by the state Zijin mining Which runs all gold mines in the group outside China. Among the main investors in the public subscription are the funds in Singapore, the sovereign wealth of GIC, HHLRA’s HHLRA and Blackrock.

Zijin mining, The largest gold producer in ChinaIt has been announced In April It will produce its external golden operations in the new Zijin Gold Unit as part of a wider restructuring aimed at increasing its concentration on gold.

The group’s global footprint extends to Central Asia, South America, Oceania and Africa. It participates in the full value chain of gold mining, from exploration and development to treatment, melting, refining and sales.

In 2024, Zijin mining produced 1.3 million ounces (40.4 tons) of gold, as it was occupied by the ninth world level in reserves, according to the company’s estimates.