Jinxin Resources Opens IPO Subscription from Dec 31 to Jan 6, Secures Approximately $60.26 Million in Cornerstone Investments

Deep News2025-12-31

Jinxin Resources (03636) opened its initial public offering subscription period from December 31, 2025, to January 6, 2026. The company plans a global offering of 36.7656 million H shares, with the Hong Kong public offering accounting for 10% and the international offering for 90% of the total, plus a 15% over-allotment option. The offer price is set at HK$30 per share, and the H shares will be traded in board lots of 200 shares each. The H shares are expected to commence trading on the Stock Exchange at 9:00 a.m. on Friday, January 9, 2026.

The company has entered into cornerstone investment agreements with cornerstone investors Glencore AG, Stoneylake Global, North Rock, ChinaAMC (Hong Kong), New Asia Fuyi, Lianyue Group, Zhengxin Group, and Sunwoda Treasury. These cornerstone investors have agreed, subject to certain conditions, to subscribe for shares amounting to approximately $60.26 million at the offer price.

Assuming an offer price of HK$30.0 per share and that the over-allotment option is not exercised, the company estimates net proceeds of approximately HK$1.0426 billion from the global offering. Approximately 80% of the net proceeds will be allocated to expanding the company's core business; about 10% will be used to repay certain interest-bearing bank borrowings; and the remaining 10% will be allocated for working capital and general corporate purposes.

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