Zijin Gold International’s shares increased by more than 60 % on their first appearance in Hong Kong on Tuesday after collecting more than $ 3 billion in one of the largest primary public offers in the world this year.
Blockbuster’s opening comes as gold prices continue to reach the highest level in the midst of the increasing demand for safe assets to mitigate the wider market fluctuations and expected US interest rate discounts.
The possibility of closing the US government and expectations to the ups of the upholstery of precious metals, which reached 3867.89 dollars on Tuesday.
Analysts say that it may soon reaches 4000 dollars, after it has accumulated by almost 50 % since the end of the year.
Zijin Gold – a unit of Zijin mining, the largest mining in China – beautified 67 % to its peaks of $ 120 from Hong Kong, evaluated by about $ 300 billion from Hong Kong ($ 38.6 billion).
The company is one of the fastest gold producers in the world, and has interest in eight mines in regions throughout Central Asia, South America, Oceania and Africa.
She said she has extensive experience in global integration and acquisitions through mine assets.
The company added: “We have the powerful ability to manage costs, as many of our mines have become profitable after a short period of our acquisitions,” the company added.
Public subscription revenues will be used to settle the acquisition of a golden mine in Kazakhstan, as well as to upgrade and build current mines over the next five years.
Global demand for gold is expected to grow due to increased interest from central banks looking to maintain value and diversify risk, according to FROST & Sullivan.
He added that the price of the metal will also be supported through the quality of mines that decrease and increase the costs of extraction.
Hong Kong Chan Financial Secretary said on Sunday that preliminary public offers raised nearly $ 150 billion from Hong Kong so far this year, as it ranked first in the world.
Deloitte Accounting Company said last week that it expects Hong Kong to witness more than 80 subscriptions in 2025, reaching $ 280 billion from Hong Kong.
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