Mineral company goes for Hong Kong, not London, listing « Mining Blog

Mineral company goes for Hong Kong, not London, listing

8. May 2012,

Although more and more mining companies have listed on Hong Kong’s stock exchange, the exchange itself is not doing so well.

According to London’s citaym (8 May 2012), this year the HKx has suffered its “worst ever” start for IPOs (Initial Public Offerings).

Overall equity activity is said to be “down by about a fifth” on what it was in 2011.

The latest mining outfit, planning to list on the HKx is Graff Diamonds, which is betting on a price rise for the glittering prizes “in the coming years”.

Although based in London, Graff has apparently decided not to list in the UK capital.

That’s one more “bitter blow (as cityam describes it) for the world’s leading mining stock exchange.

The LSE has itself failed to attract anything like the number of new mining IPOs it hoped for a year ago.

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