AsianFin -- Zijin Gold shares surged more than 60% on Tuesday as the Chinese miner’s international unit began trading in Hong Kong, marking one of the year’s biggest market debuts.

The company raised nearly HK$25 billion (about US$3.2 billion) through its initial public offering, pricing shares at HK$71.59 each. The deal ranks as the world’s second-largest IPO of 2025, trailing only battery giant CATL’s listing earlier this year.

Zijin’s debut was delayed by a day after Super Typhoon Ragasa disrupted trading in Hong Kong last week. The launch comes as gold prices hit record highs, with spot bullion recently topping US$3,800 per ounce amid safe-haven buying, expectations of global rate cuts, and heightened economic uncertainty.