On July 31, ZIJIN GOLD INTL rose 3.72% in regular trading, trading at 122.3 HKD/share, with turnover of HKD 332 million.
On the news front, the company announced on July 29 the formal termination of its previously planned all-cash acquisition of Allied Gold Corporation at CA$44 per share for a total consideration of approximately CA$5.5 billion, with neither party paying a termination fee. Simultaneously, ZIJIN GOLD INTL will subscribe for 12.8 million newly issued Allied Gold shares via private placement at CA$32.55 per share, representing approximately 9.2% of Allied Gold's enlarged share capital, for a total subscription amount of approximately CA$417 million.
Market interpretation suggests that compared to the CA$5.5 billion full acquisition, the approximately US$295 million strategic stake effectively mitigates funding pressure and closing uncertainty while still securing rights to quality gold assets, reflecting a pragmatic shift in overseas expansion strategy from full ownership to strategic participation.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
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