Staff reporter and agencies
China's Chifeng Jilong Gold Mining kicks off book-building today to raise up to HK$3.26 billion in an initial public offering in Hong Kong.
The mainland-listed gold miner plans to offer 206 million shares, with 10 percent allocated to the retail tranche, at a price range of HK$13.72 to HK$15.83 per share.
The minimum investment at HK$3,197.93 per board lot of 200 shares
The stock is expected to debut on March 10, with Citic Securities (Hong Kong) as the sole sponsor.
Chifeng owns and operates seven gold and polymetallic mines in various parts of the world, including China, Southeast Asia and West Africa.
Meanwhile, Chinese IT services company Unisplendour has picked BNP Paribas, China Merchants Bank International and CSC Financial (6066) for its planned US$1 billion (HK$7.8 billion) second listing in Hong Kong, people familiar with the matter said.
Beijing-based Unisplendour is one of several Chinese companies on mainland exchanges that are looking to sell shares in Hong Kong.
The trend stems from China's decision to limit stock sales onshore to prop up its equities market, while authorities are also encouraging listings in Hong Kong.
The company's shares have risen 12 percent in Shenzhen this year, giving it a market value of about 90 billion yuan (HK$95.94 billion).
In other news, the China Securities Regulatory Commission said it intends to impose "tighter control" over US listings of Chinese companies with small capitalization and weak fundamentals, as they are prone to market manipulation, the Financial Times reported, citing four people close to the regulator.
Chifeng chief executive Lydia Yang and vice president, chief financial officer and company secretary Mario Wong at a press briefing. CHIFENG
