On April 22, 2024, Zhaojin Mining Industry Co., Ltd. (stock code: 1818.HK, “Zhaojin Mining”) announced the successful placement of 132 million new H shares at a price of HK$13.20, raising proceeds of approximately HK$1.74 billion. This was the largest priced placement in the Hong Kong stock market this year to date and the largest placement in the non-ferrous metal industry in the Hong Kong stock market since 2022.
Zhaojin Mining is a joint stock limited company that was incorporated in the People's Republic of China in 2004, with the approval of the Shandong Provincial People's Government. It was listed on the Main Board of the Stock Exchange of Hong Kong Limited in 2006 and is a leading gold producer and gold smelting enterprise in China. UBS AG Hong Kong Branch and Huatai Financial Holdings (Hong Kong) Limited acted as the overall coordinator and placement agent in this project.
JunHe acted as legal counsel to the underwriter and provided advice under Hong Kong and American laws. We assisted Zhaojin Mining throughout the whole process of the share placement, from the drafting of the transaction documents to negotiation and closing and were highly recognized by the client.
The JunHe team advising on this project was led by partners TAO, Xudong, ZHANG, Ke and LOU, Lan. JunHe partners ZHANG, Ke, Yuki Chan, YANG, Yinglei and LOU, Lan were responsible for the specific work.