182.58 billion! Zijin Mining will acquire control of Chifeng Gold

MaticHoleFiller · 2026-03-23T07:40:48+00:00

Zijin Mining intends to acquire Chifeng Gold's shares through its wholly-owned subsidiary Zijin Gold for approximately RMB 18.258 billion. The transaction will increase its shareholding ratio to 25.85%, enabling financial consolidation and obtaining control rights.

MaticHoleFiller

2026-03-23 07:40:48

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Zijin Mining announced on the Hong Kong Stock Exchange that on March 22, its wholly owned subsidiary Zijin Gold signed a Share Transfer Agreement with Chifeng Gold Holdings’ shareholder Li Jinyang and his concerted parties Zhejiang Hanfeng. The company plans to acquire a total of 242 million shares of Chifeng Gold A-shares at RMB 41.36 per share (a 1.3% premium over Chifeng Gold’s pre-trading suspension closing price). The transaction amount is approximately RMB 10.006 billion. On the same day, Zijin Gold signed a Strategic Investment Agreement with Chifeng Gold, intending to subscribe to 311 million shares of Chifeng Gold H-shares at HKD 30.19 per share (about 83% of the average price over sixty trading days before the suspension). The subscription amount is approximately HKD 9.386 billion (about RMB 8.252 billion). The total transaction consideration is approximately RMB 18.258 billion.

Before this transaction, the company’s other wholly owned subsidiaries held 19 million shares of Chifeng Gold. After the transaction, the company’s wholly owned subsidiaries will hold a total of 572 million shares of Chifeng Gold, accounting for about 25.85% of the total shares after the issuance. The company will gain control of Chifeng Gold and consolidate its financials.

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