03858 佳鑫國際資源
JIAXIN INTL RES
JIAXIN INTL RES
| Listing Date | 2025/08/28 Listed Today |
| Listing Price | 10.920 |
Quote
Subscription Result
- Subscription Rate2,041.62x
- Guarantee One Lot Size3750 lot
- One Lot Success Rate1%
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IPO Detail
COMPANY PROFILE
Jiaxin International Resources Investment is a tungsten mining company focusing on the development of its Boguty tungsten mine based in Kazakhstan. As of December 31, 2024, according to the report, the Group’s Boguty tungsten mine was the world’s largest open-pit tungsten mine in terms of Mineral Resources of tungsten trioxide (WO3) and was also the world’s fourth largest tungsten mine (including both open-pit and underground tungsten mines) in terms of Mineral Resources of WO3, having the world’s largest designed tungsten concentrate production capacity among single tungsten mines.
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The Group primarily focused on preparing the Boguty Project for commercial production, and the phase I commercial production of the Boguty Project commenced in April 2025 with a target annual mining and processing capacity of 3.3 Mt of tungsten ore in 2025. As of August 11, 2025, the Group only had one mine, i.e., the Boguty tungsten mine, and its future revenue in the near term is dependent on this mine.
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As of June 30, 2025, the estimated Mineral Resources of the Group’s Boguty tungsten mine were approximately 107.5 Mt ore at 0.211% WO3, and its Boguty tungsten mine hosted Probable Ore Reserves in accordance with 68.4 Mt of ore with an average grade of 0.206% WO3. The Group hold exclusive mining rights to the Boguty tungsten mine. The term of the SSU Contract is 25 years from June 2, 2015 to June 2, 2040.
BASIC INFORMATION
| Market | Hong Kong (Main Board) |
| Business Nature | Diversified Metals & Minerals |
| Major Business Area | Central Asia |
| Board Lot | 400 |
GLOBAL OFFERING
| No. of Offer Shares | 109.81M shares |
| No. of International Offer Shares | 98.83M shares |
| No. of HK Offer Shares | 10.98M shares |
| Offer Price | $10.92 |
| Stock Code | 3858 |
| Sponsor(s) | China International Capital Corporation Hong Kong Securities Limited |
| Underwriter(s) | China International Capital Corporation Hong Kong Securities Limited, China Galaxy International Securities (Hong Kong) Co., Limited, CMB International Capital Limited, Celestial Securities Limited, ABCI Securities Company Limited, Tiger Brokers (HK) Global Limited, AVICT Global Asset Management Limited, Lighthouse Capital (HK) Financial Limited |
TIME TABLE
| Application Period | Aug 20 (Wed) - noon, Aug 25 (Mon) |
| Price Determination Date | -- |
| Result Announcement Date | On or before Aug 27 (Wed) |
| Result Announcement Date | On or before Aug 27 (Wed) |
| Result Announcement Date | On or before Aug 28 (Thu) |
| Dealings in Shares commence on | Aug 28, 2025. (Thu) |
Reallocation of Shares Offered
Sales Statistics (HKD)
| Offer Price | $10.92 |
| Capitalization | 4.80B |
| NAV / share ($) | $2.53 (Unaudited pro forma adj NAV / share) |
Use Of Proceeds
| Assuming the offer price being at HKD 10.92, the net proceeds raised would be HKD 1.09B, of which |
| 55% : Fund the capital costs for the development of Boguty Project |
| 10% : Fund the development of ammonium paratungstate (APT) production capabilities |
| 25% : Repay a portion of principal amounts |
| 10% : Working capital |
IPO NEWS
| 28/08/2025 16:08 |
| {New Stock}JIAXIN INTL RES ends up 177.84% at HK$30.34 |
| 28/08/2025 09:20 |
| {New Stock}JIAXIN INTL RES opens up 108.79% at HK$22.8 |
| 27/08/2025 18:35 |
| {New Stock}JIAXIN INTL RES ends up 102.93% on grey market |
| 27/08/2025 16:20 |
| {New Stock}JIAXIN INTL RES(03858) up 80.31% on grey market |
Related Document
| Prospectus |  Chinese Version | English Version |
| Remark： | The above information is referenced from the prospectus. |
| All data is calculated from the non- exercise rights(if applicable). |
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*Admission fees include brokerage of 1%, SFC transaction levy of 0.0027%, Stock Exchange trading fee of 0.005% and FRC transaction levy of 0.00015% (i.e. 1.0077% in total).