IPO: gold miner Shanjin plans Hong Kong listing amid record prices for precious metal
The mining group will select an appropriate timing and offering window to complete the listing plan within 24 months after gaining consent from its shareholders, according to a Hong Kong stock exchange filing on late Monday. The plan would require approvals from all regulatory authorities in mainland China and Hong Kong, it added.
Shanjin, whose shares are listed in Shenzhen, was the sixth largest producer and fourth most profitable gold miner based on its 2023 performance, according to the China Gold Association. The company reported a 52.6 per cent jump in net profit to 2.17 billion yuan (US$302.4 million) in 2024, aided by a rally in the precious metal.
Shanjin operates six mines, with three focused on gold production. It acquired a gold exploration and development group, Osino, based in Namibia last year.
Ghana reaches a historic milestone with the opening of its largest gold mine, located in the Talensi district and developed by Shandong Gold. Photo: X/Newsfokus
Shandong Gold Mining, a company listed in Hong Kong and Shanghai, controls 29 per cent of Shanjin International and consolidates its results as a 'holding subsidiary'. The firm first bought 20.9 per cent of Shanjin in December 2022 and raised its stake to 29 per cent in 2023 from open market purchases.
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