Zijin Mining Plans $3 Billion Hong Kong Listing As Gold Hits Record Highs

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Zijin Mining Group (OTCPK: ZIJMF), China's largest gold producer, is preparing to spin off its international gold-mining operations in Hong Kong through a public listing that could raise more than $3 billion. If successful, it would mark the biggest IPO raise since Contemporary Amperex Technology Ltd's $5.3 billion deal in May.

This move would set Zijin Gold International, an entity responsible for the group's overseas portfolio, into a standalone entity. With yellow metal prices striking fresh all-time highs above $3,500 an ounce, the investor appetite is expected to be healthy.