Get ready for a gold rush! Zijin Gold International launched on the Hong Kong bourse on Tuesday, raising nearly US$3.2 billion in 2021’s second-largest IPO behind CATL. Investors piled in, sending shares soaring up to 66%!
Here’s the scoop: Zijin Gold priced 349 million shares at HK$71.59 (about US$9.20) each. By early trading, the stock shot up to HK$119, giving the overseas gold arm of Zijin Mining a jaw-dropping HK$302 billion (US$38.7 billion) valuation. 🎉
Why it matters: As central banks flash warning signs of inflation, gold keeps its shine as a safe-haven asset. Zijin’s splashy debut signals strong appetite for precious metals and highlights Hong Kong’s role as a key capital hub for mining giants. For young investors hunting growth—or a hedge against market swings—this debut is a reminder to keep an eye on gold’s sparkly opportunities. ✨
What’s next? Watch trading in the coming days to see if Zijin Gold can hold onto its early gains. Will this gold star keep shining, or settle into a steadier groove? Stay tuned as we track the next chapter of this glittering story. 🚀
Reference(s):
cgtn.com
