Tungsten miner Jiaxin’s dual listing a boost for Hong Kong and yuan’s global profile

Tungsten Miner Jiaxin International Resources appeared for the first time on Hong Kong and Kazakhstech stock exchanges on Thursday in the first dual list in the world, highlighting deepening relationships between China and Central Asia.

The shares of the Chinese company, whose only project in Kazakhstan increased by 178 percent to $ 30.34 Hong Kong on Thursday from its first year (IPO) on the Hong Kong Stock Exchange.

On Thursday, Christopher Hoy, the Treasury and the Treasury Office (FSTB), said on a social networking site on Thursday that the Jiaxin list on the AIX International Stock Exchange was a “pioneering example” of public subscription financing in Central Asia in Yuan. He said that the deal reflects the various international participation in the Hong Kong market and the city’s cooperation with Central Asia in pushing the belt and road initiative forward.

Do you have questions about the largest topics and trends from all over the world? Get the answers using the knowledge SCMP knowledge, our new platform for coordinated content with supervisors, common questions, analyzes, and graphs that our award -winning team brought to you.

Financial secretary Paul Chan Mo Bo at a blog said on Sunday that the list was a “new chapter” in the internationalization of the yuan.

HKEX Carlson Tong (Center) Chairman, CEO Bonnie Chan (Sixth Left), Hong Kong Nicholas Initiative in Hong Nicholas is (the seventh right) and CEO of Jiaxin International Resources in the company’s first commercial appearance in Hong Kong on Thursday. Photo: Alt = Chairman of HKEX Carlson Tong (Al -Wasat), CEO Bonnie Chan (Sixth Left), Hong Kong Roads Initiative and Road Initiative is (the seventh right) and executives of Giaxin International Resources Investment in the first trading of the company in Hong Kong on Thursday. Photo: Bulletin>

Jiaxin raised $ 1.2 billion Hong Kong ($ 154 million) of selling shares, pricing at $ 10.92 Hong Kong in Hong Kong and 9.93 Yuan in Astana, according to its presentation. Of the 109.8 million shares offered, about 1.2 percent was offered on AIX.

The subscription to the deal has been increased by about 2040 and 20 times between retailers and founders, respectively. Asset Investing in Cornerstone, including China Cinda (HK) Management, Luyin Trading, GF Fund Management, Fulllgoal Asset Management (HK) and Zhengxin Group Investment in half of the offered shares offered.

Jiaxin, supported by the state -owned Jiangxi Copper, plans to use the public subscription revenues to develop the Boglement Project mine, and to promote and pay out the output loans, according to the deposit.