Zijin Gold International readies up to US$3 bln Hong Kong IPO

Zijin Gold International, which is being spun off from China's Zijin Mining (2899), is preparing to initiate discussions with potential investors for a significant initial public offering in Hong Kong and it could begin this process as early as next week, Bloomberg reported.

Sources indicate the share sale has the potential to raise over US$3 billion (HK$23.4 billion). If it proceeds at this scale, it would mark the largest global listing since Chinese electric vehicle battery giant Contemporary Amperex Technology (3750) raised US$5.3 billion in May.

This move coincides with a period where the value of gold is consistently reaching unprecedented highs. 

The actual public listing could occur before the end of this month, the report said.