Zijing Mining spin-off eyes raising US$2b in potential September listing

Zijin Gold International, which will be spun off from China's Zijin Mining (2899), plans to go public in Hong Kong as early as September to raise about US$2 billion (HK$15.6 billion), IFR reported.

Zijin Mining, the country's biggest gold and copper producer, said that, to accelerate the internationalization process of its gold segment, it would reorganize its overseas gold mine assets under the wholly owned Hong Kong subsidiary Zijin Gold International and apply for a separate listing, according to an exchange filing on April 30.

Zijin Gold International submitted its listing application to the city exchange in June, but has yet to receive approval from China’s securities regulator for the offshore listing.

STAFF REPORTER