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9.3 billion Yuan subscription, Zijin Mining public issuance of A shares set another miracle

Zijin News On the evening of November 19, Zijin Mining announced the completion of the public issuance of A shares. The company issued an additional 2.346 billion shares, raised funds of 8 billion Yuan, and the total subscription amount reached 9.3 billion yuan, exceeding the total raised funds by about 16%, and the placement ratio was 83.74%. This is the largest public issuance of A shares in recent years. In the challenging environment of the stock market and mining industry, public offering of Zijin Mining, which was originally considered the most difficult issue of equity by the market, became one of the luckiest offerings, and the transaction has become a market benchmark. After returning to A-shares with an innovation of 0.10 yuan per share in 2008, Zijin Mining set a new miracle.

In this additional issue, the company ’s largest shareholder, Minxi Xinghang State-owned Assets Investment Company Limited, purchased 500 million Yuan, and Chairman Chen Jinghe applied for 40.92 million Yuan. Employees of the company trusted the company to support the additional issue, and actively purchased more than 600 million Yuan with their own funds.

Top institutions are actively participating in this release. A total of 27 institutional investors participated in the offline purchase of Zijin Mining’s issuance, which covered public funds, private equity funds, insurance companies, trust companies, broker-dealers, government funds and peers.

In the sluggish market environment, Zijin's successful issue was hard-won and extraordinary, indicating that the capital market and peers highly recognize Zijin's long-term investment value and development prospects. The company's three-year planning announcement shows that the output range of the company's mineral gold, copper, and zinc in 2022 will be 49-54 tons, 670,000-740,000 million tons, and 380,000-420,000 tons. The Congo (Kin) Kamoa Copper Mine acquired by the company in 2015 in a counter-cyclical manner has an amount of more than 42 million tons, which is the largest and highest-quality undeveloped world-class copper mine in the world. The company ’s additional core investment project Timok copper-gold mine has proven to be on the upper belt of mine + controlled resource amount of about 1.05 million tons of copper with a grade of 3.7%, gold of about 68 tons and a grade of 2.4 g / ton. Copper grade is as high as 12.3%. The above two key projects will be completed and put into operation in the middle of 2021, laying a solid foundation for the company's development.

This successful issuance is another major measure for Zijin Mining to implement the company's strategy of “internationalization, large-scale projects, and asset securitization” after the successful implementation of the private placement in 2017, which will further strengthen the company's core competitiveness and help the company move towards the goal of “extra-large scale international mining group with high technology and efficiency”.