IPO News | “Huagasha” Approaches Hong Kong Zijin Gold International (02259) Subscription Deadline or Postponed

The Zhitong Finance App learned that Zijin Gold International (02259) will be offering shares from September 19 to 24, and is expected to be listed on September 29. However, in the face of super typhoon “Huagasha” approaching Hong Kong, Zijin Gold International may postpone the subscription period or even the listing date.

Currently, the observatory will change the gale or storm signal No. 8 at 2:20 p.m. on September 23 (Tuesday), and will consider the distance between Gaza and Hong Kong and local wind changes to assess whether a higher tropical cyclone warning signal is needed from later on Tuesday until the beginning of September 24 (Wednesday).

According to Zijin Gold International's prospectus, if Hong Kong issues Tropical Cyclone Warning Signal No. 8 or above between 9:00 a.m. and 12:00 p.m. on September 24, the company will need to postpone the deadline for retail investors to submit subscription applications.

According to HKEx rules, this will delay the subscription period by at least one working day and postpone all subsequent steps of the listing, including the listing transaction.

According to the prospectus, Zijin Gold International is one of the world's leading gold mining companies integrating all of Zijin Mining's gold mines (except China). With Zijin Mining's competitive advantage in the management of exploration, development and operation of low-grade difficult resources, the company has become a leading global gold mining company, mainly engaged in the exploration, mining, beneficiation, smelting, refining and sales of gold.

According to Frost & Sullivan, Zijin Gold International's gold reserves as of December 31, 2024 and gold production in 2024 ranked 9th and 11th respectively in the world. The compound annual growth rate of gold production from 2022 to 2024 reached 21.4%, and the net profit attributable to parent company owners was 61.9%.

Zijin Gold International expects that the proceeds from the fund-raising will be used to pay for the acquisition of the Raygorodok gold mine in Kazakhstan; upgrade and build existing mines within the next five years to comprehensively increase production capacity; exploration activities for all mines in operation; and general corporate purposes.