Shandong Gold Mining to Establish Hong Kong Treasury JV

MT Newswires Live10:40

Shandong Gold Mining (HKG:1787, SHA:600547) will establish a Hong Kong treasury management company with total subscribed capital of 1 billion yuan through a joint investment with its controlling shareholder, according to a Friday Hong Kong bourse filing.

Shandong Gold Mining's wholly owned unit Mining Hong Kong will contribute 400 million yuan for a 40% stake, while Yacheng Investment, a wholly owned subsidiary of Shandong Gold Group, will invest 600 million yuan for the remaining 60%.

The proposed company will centralize overseas fund management, deposits, settlements, and credit services, while managing foreign exchange and interest rate risks.

The platform is intended to reduce financing costs and improve liquidity and capital allocation.

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