NEWS  /  Brief News

U.S. Lawmakers Warn Morgan Stanley Over Risks Tied to Zijin Gold IPO

Nov 13, 2025, 8:55 p.m. ET

Morgan Stanley’s role in underwriting Zijin Gold International’s Hong Kong initial public offering exposed the bank and its U.S. investors to potential regulatory, financial and reputational risks, a U.S. House of Representatives committee said Thursday.

Zijin Gold is a subsidiary of Zijin Mining Group, a major China-based mining company that appears on a U.S. government list of entities whose imports are banned due to alleged human rights abuses involving Uyghurs.

The House Select Committee on China said Morgan Stanley’s assistance with Zijin Gold’s IPO in September—an offering aimed at helping the parent company raise capital by selling its non-Chinese gold mining assets and listing them in Hong Kong—raised concerns about whether the bank was effectively helping Zijin Mining circumvent U.S. prohibitions.

Please sign in and then enter your comment