Shandong Gold Mining to raise HK$3.9bn in H-share placement

Shandong Gold Mining Co., Ltd. announced its intention to place up to 136,500,000 new H shares at HK$28.58 per share. This placement, approved by the board on September 1, 2025, is pursuant to a general mandate granted by shareholders on June 11, 2025, allowing the issuance of up to 20% of existing H shares, or 171,797,235 H shares. The placing price represents an 8.98% discount to the closing price on September 1, 2025, and a 0.85% discount to the average closing price over the last five trading days.

The company has entered into a placing agreement with placing agents, including China International Capital Corporation Hong Kong Securities Limited and CLSA Limited, who will endeavor to procure at least six placees. Gross proceeds from the placement are expected to be approximately HK$3,901.17 million, with net proceeds of HK$3,892.42 million primarily allocated to repay company debts. The placement is conditional on regulatory approvals, including the listing committee of the Stock Exchange of Hong Kong, and the delivery of a lock-up undertaking from Shandong Gold Group.

Upon completion, the placing shares will rank equally with existing H shares. The transaction is intended to enhance the company's capital strength, optimize its capital structure, and promote healthy, sustainable, and high-quality development, ultimately fostering a world-class gold mining enterprise.