On April 9, 2024, China Nonferrous Mining Corporation Limited (01258.HK) announced the issuance of 163 million shares at a price of HK$6 per share, raising HK$978 million (approximately US$125 million).The proceeds will be utilized for the company's expansion projects, acquisitions for external growth, and supplementing working capital.

The company's issuance attracted significant attention and widespread recognition from the capital markets, drew participation from dozens of domestic and international long-only funds, multi-strategy investors, and hedge funds, and achieved multi-fold oversubscription. Ultimately, high-quality long-only funds accounted for over 40% of the allocation, reflecting the capital market's confidence in the company's asset quality, profitability, and growth prospects.

In recent years, amidst changing external environments, liquidity in Hong Kong's capital markets has contracted, resulting in a significant decrease in financing scale.The company's current transaction is the largest re-financing in the Hong Kong metals and mining sector since the second half of 2021 and the first lightning equity placement by a state-owned enterprise-controlled listed company in the Hong Kong market since 2022.In the face of headwinds, the company closely monitored market and industry trends, made prudent judgments and scientific decisions, and successfully broke the ice for state-owned listed companies seeking market-based re-financing in Hong Kong in recent years.

The company's scientific management level, stable profitability, healthy debt structure, and generous dividend payouts have consistently earned widespread recognition from capital markets. Through this re-financing, the controlling shareholder has released liquidity, and the company has introduced a group of high-quality strategic investors, further improving trading activity in the secondary market. Simultaneously, funds have been reserved for expansion projects and resource acquisitions, which lays the foundation for the company's future rapid growth and high-quality development. The company's leadership and employees will remain steadfast in their confidence, forge ahead resolutely, and strive to deliver even more outstanding performance to reward all shareholders!