Linklaters advise on the largest mining IPO in Hong Kong in the last six years

Linklaters acted as Hong Kong and U.S. legal advisors to the underwriters including, CCB International Capital Limited, China Securities (International) Corporate Finance Company Limited, ICBC International Capital Limited, Morgan Stanley Asia Limited and Morgan Stanley & Co. International plc, on the IPO of Shandong Gold Mining Co., Ltd. ("Shandong Gold") on the Hong Kong Stock Exchange, on 28 September 2018.


The IPO comprised the primary listing and global offering of 356,889,500 of H Shares, approximately 16.1% of its issued share capital, successfully raising approximately HK$5.2 billion. Shangdong Gold's IPO is the largest mining company IPO in Hong Kong in the last 6 years


The state-owned domestic holding company of Shandong Gold is also listed in Shanghai with a market capitalisation of RMB43.6 billion (US$6.3 billion) and is now the largest PRC gold producer listed in the PRC and Hong Kong. Shangdong Gold controls and operates 12 domestic gold mines, accounting for approximately 6.9% of China’s gold output, and also jointly operates Veladero Mine, Argentina’s largest mine and the second-largest in South America, with Canadian mining company Barrick Gold.


The Linklaters team was led by partners Iris Leung and Kevin Cheung, supported by managing associate Liang Wei. Capital Markets partner Iris Leung, commented;

“We are pleased to be part of the success of this landmark IPO, inevitably a testimonial to the strength of Linklaters’ equities practice in the market.”