Zhaojin Mining completes HKEX share placement, raising HK$1.97bn

Zhaojin Mining Industry Company Limited (HKEX:1818) announced the completion of its share placement under the general mandate, as detailed in its March 24, 2025, announcement. The company successfully placed 140,000,000 new H shares at a price of HK$14.16 per share. This represents approximately 4.86% of the H shares and 3.95% of the total shares in issue after the allotment. The placement involved independent third-party investors. The gross proceeds amounted to approximately HK$1,982.4 million, with net proceeds, after deducting commissions and expenses, reaching approximately HK$1,970.3 million. Zhaojin Mining intends to utilize these net proceeds to replenish its working capital and repay bank loans. Following the placement, the total issued shares have increased to 3,542,393,204, with H shares now totaling 2,881,555,597. Domestic shares remain unchanged at 660,837,607.