Tungsten mining company Jiaxin International Resources is planning to raise approximately HKD 1.2 billion by selling shares in Hong Kong.

According to the announcement submitted to the Hong Kong Stock Exchange, Jiaxin International Resources is selling approximately 109.8 million shares in Hong Kong at a price of 10.92 Hong Kong dollars per share. Calculations show that the company will raise approximately 1.2 billion Hong Kong dollars through the share sale in Hong Kong. The stock will be listed for trading on August 28. Jiaxin International Resources will be dual-primary listed on the Hong Kong Stock Exchange and the Astana International Exchange in Kazakhstan. It has preliminarily submitted around 1.3 million shares for sale on AIX, representing approximately 1.2% of the total shares to be sold under the global offering. China International Capital Corporation Limited is the exclusive sponsor.