Zijin Gold International just delivered a stock market performance worthy of a blockbuster movie 🎬! Shares skyrocketed 66% during their Tuesday debut on the Hong Kong Stock Exchange, following a massive $3.2 billion IPO – the world’s second-largest this year after battery giant CATL.
The gold-focused arm of mining powerhouse Zijin Mining priced its 349 million shares at HK$71.59 ($9.20) each. But investors clearly saw 💎 in the rough: the stock quickly soared to HK$119, pushing the company’s valuation to a glittering HK$302 billion ($38.7 billion).
Analysts say the explosive debut reflects global confidence in gold’s role as a safe-haven asset amid economic uncertainty. With Zijin Gold managing its parent company’s overseas operations, this IPO could signal fresh opportunities for investors eyeing Asia’s resource sector. 🌏💼
