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Zijin Gold Aims for $3.21 Billion IPO Amid Rising Gold Prices

9/19/2025

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Summary

Story summary

Zijin Gold International plans to raise HK$24.98 billion (US$3.21 billion) in an IPO, the second largest in Hong Kong this year, with shares priced at HK$71.59 each.
The funds will support a US$1.2 billion acquisition of the Kazakhstan Raygorodok Gold Mine and upgrades to existing mines over five years.
Gold prices have risen nearly 40% this year, reaching US$3,682 per ounce, due to central bank purchases and trade uncertainties.
Trading for Zijin Gold starts on September 29, attracting interest from cornerstone investors like GIC and BlackRock.
The company produced 1.5 million ounces of gold in 2024, making it the world's 11th largest producer.

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Story summary

Zijin Gold International plans to raise HK$24.98 billion (US$3.21 billion) in an IPO, the second largest in Hong Kong this year, with shares priced at HK$71.59 each.
The funds will support a US$1.2 billion acquisition of the Kazakhstan Raygorodok Gold Mine and upgrades to existing mines over five years.
Gold prices have risen nearly 40% this year, reaching US$3,682 per ounce, due to central bank purchases and trade uncertainties.
Trading for Zijin Gold starts on September 29, attracting interest from cornerstone investors like GIC and BlackRock.
The company produced 1.5 million ounces of gold in 2024, making it the world's 11th largest producer.