Tungsten miner Jiaxin International Resources kicks off $1.2 billion HK IPO

Chinese tungsten miner Jiaxin International Resources Investment has opened the retail book, aiming to raise nearly HK$1.2 billion from the Hong Kong initial public offering. 

The company, which operates exclusively in the world’s fourth largest tungsten mine, plans to issue 109.8 million shares at HK$10.92 apiece. It asks for a minimum investment of around HK$4,412 per board lot of 400 shares.

The miner is also applying for a dual primary listing in Kazakhstan, offering to sell 1.32 million shares. 

Jiangxi Copper (0358) is a major shareholder of the company.