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China’s Zijin Gold surges over 60% in Hong Kong debut after world’s second-largest IPO this year
Zijin Gold shares surged over 60% Tuesday as the Chinese miner’s international unit made its trading debut in Hong Kong. The company had raised nearly 25 billion Hong Kong dollars (about $3.2 billion) with shares priced at HKD$71.59 apiece, making it the world’s second-largest initial public offering after battery giant CATL’s listing earlier this year. Zijin Gold’s debut, which was delayed by a day due to the impact of Super Typhoon Ragasa on Hong Kong last week, comes at a time when the yellow metal has been notching record highs. Spot gold recently surpassed $3,800 per ounce amid strong safe-haven demand, ... (full story)
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