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Investing.com -- Zijin has announced the schedule for the spin-off IPO of Zijin Gold International (HK:2259, ZGI), with trading set to begin on September 29.
Applications for the IPO opened on September 19 and will remain open until September 24. Allocation results will be announced on September 26.
ZGI will issue 349 million shares, which represents 13.3% of the company after issuance. This could increase to 401 million shares if the 15% over-allotment option is fully exercised, bringing the public float to 15%.
The offering includes 17.4 million shares of preference offering to qualified existing Zijin-H (HK:2899) shareholders based on September 18 records, with a ratio of one ZGI share for every 344 Zijin-H shares held.
The IPO has attracted significant investor interest, with over 20 major global asset managers joining as cornerstone investors. These investors have subscribed to 174 million shares, representing nearly 50% of the offer shares before over-allotment, or 43% after full over-allotment.
The offer price is set at HKD71.59, giving ZGI a market capitalization of approximately HKD190 billion (USD24 billion+). The issuance is expected to raise HKD25 billion (USD3.2 billion) before over-allotment, or HKD28 billion (USD3.7 billion) if the over-allotment option is fully exercised.
This makes the ZGI offering the second largest in the Hong Kong market in 2025, surpassed only by the CATL-H offering.
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