Chinese tungsten miner Jiaxin surges in Hong Kong debut

Jiaxin International Resources Investment

28/08/2025 08:26

** Shares of Jiaxin International Resources Investment 3858.HK trade as high as at HK$29.20 in Hong Kong debut, up 167.4% from offer price of HK$10.92 apiece

** Stock later trimmed gains to trade at HK$28.38, still up 159.9% from offer price

** That compared to a 0.8% fall in the benchmark Hang Seng Index .HSI, 0.4% dip in Hang Seng material index .HSCIM

** Chinese tungsten mining group offered 109.81 mln shares for sale in global offering, raising HK$1.2 bln ($153.62 mln)

** Jiaxin's Hong Kong public offering subscribed 2,041.62 times, international offering was subscribed 21.11 times subscribed

** China, which dominates production with 83% of global output in 2024, restricted exports in February, requiring companies to obtain licences before shipping

($1 = 7.8113 Hong Kong dollars)

 (Reporting by Donny Kwok)

 ((donny.kwok@thomsonreuters.com))