Chinese Mining Firm Lists on AIX in Landmark Belt and Road IPO
“The listing ceremony took place on September 5 during Astana Finance Days 2025, marking a milestone for Kazakhstan’s capital market. According to the Ministry of Industry and Construction, the transaction represents the first IPO in Central Asia denominated in Chinese yuan (CNY) and the first IPO on AIX’s dedicated Belt and Road Initiative segment.”
“Jiaxin International is currently developing the Boguty tungsten deposit in Kazakhstan’s Almaty region. With reserves of approximately 107 million tons of ore, Boguty is ranked as the fourth-largest tungsten deposit in the world, positioning Kazakhstan as a critical player in the global supply chain for this strategic metal.”
“Ordinary shares of Jiaxin International were admitted to listing on August 28 on both AIX and the Hong Kong Stock Exchange (HKEX).”
“The final offer price was set at CNY 9.93. Global demand exceeded $34 billion, with the IPO more than 220 times oversubscribed compared to the targeted amount.”
Source: The Times of Central Asia