China’s Chifeng Jilong Gold Mining lists in Hong Kong to fuel global growth

Chifeng Jilong Gold Mining, China’s largest private gold producer, made a flat debut on Hong Kong’s stock exchange on Monday, with the country’s weak economic outlook clouding optimism over record bullion prices. The stock opened at HK$13.72, on par with the offer price, which was set at the lower end of the pricing range. The shares slipped more than 1% at one point, but ultimately closed their first day of Hong Kong trading where they started.

Already traded on the Shanghai market, the only privately owned player among China’s top five miners by gold reserves raised a gross HK$2.82 billion ($362 million) in its Hong Kong listing. The mainland-listed shares opened slightly down from the close last Friday, then fell by over 2% at one point, before finishing Monday’s trading 1.0% lower at 19.08 yuan.