gold-miner-launches-hong-kong-ipo-in-busy-market

Gold miner launches Hong Kong IPO in busy market

Four strategic investors are already in place for the circa $280 million deal which is viewed as a pure play on gold prices.
Zhaojin Mining Industry will be up against an array of other initial public offerings in the Hong Kong market as it kicks off its official roadshow today, but with gold prices once again on the rise and four strategic investors already on board, market watchers expect the $250 million to $300 million deal will do just fine.

The company ranks second among listed Chinese gold miners with regard to output and reserves and is seen as a pure play on the gold price. Thanks to a growing belief that US interest rates have peaked, most analysts currently expect gold to average $675 to $700 per troy ounce in 2007. The price has bounced from its...
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