China Warehouse- More Than Crockery Message Board

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Strategies & Market Trends : China Warehouse- More Than Crockery

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To: RealMuLan who wrote (240)	8/9/2003 4:28:46 PM
From: RealMuLan	Read Replies (1) of 6370

China Zhongjin Gold To List On Shanghai Exchange Thursday SHANGHAI (Dow Jones)--Zhongjin Gold Corp. said Friday it will become the first Chinese gold producer to list its shares when they start trading in Shanghai next week. Zhongjin Gold, which will list its shares Thursday, is a unit of China&'s largest gold-mining firm. It raised 405 million yuan ($1=CNY8.28) in a 100 million A-share initial public offering last month. Its IPO was 824 times subscribed and some analysts expect the offer price of CNY4.05 to more than double when the stock makes its market debut. Zhongjin Gold, a unit of China Gold Group Co., will use IPO proceeds to finance a 30 metric ton gold refinery project, a processing project and an exploration and mining project, its prospectus said. China is the world's third largest gold buyer and fourth largest gold producer. It has more than 1,000 gold mines and about 30 gold refiners.

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