Indonesia's Merdeka Gold Eyes $304.5 Million Hong Kong Offering
By Amanda Lee
Indonesian miner Merdeka Gold Resources is planning an up to US$304.5 million offering in Hong Kong, adding to the number of foreign companies tapping the city's financial markets.
Merdeka Gold said 89.67 million Hong Kong depositary receipts would be priced at a maximum price of 26.60 Hong Kong dollars each, equivalent to US$3.40.
The Indonesian-listed firm's announcement follows an application by Canadian miner Silvercorp Metals last month seeking a rare triple-primary listing in Hong Kong.
Only about a dozen non-Chinese or non-local companies have held offerings in the city in recent years. In 2025, the financial hub reclaimed its position as a top venue for initial public offerings, fueled by a wave of listings by corporations based in China.
According to a filing on Wednesday, Merdeka Gold expects the Hong Kong depositary receipts to begin trading on the Hong Kong Exchange from June 26.
The HDRs are being sold by shareholders, and the company won't receive any net proceeds from the offering.
Merdeka Gold Resources is pure-play gold producer majority owned by Indonesian mining group Merdeka Copper Gold.
UBS Securities Hong Kong and Citic Securities (Hong Kong) are acting as joint sponsors for the listing.
Write to Amanda Lee at amanda.lee@wsj.com
(END) Dow Jones Newswires
June 16, 2026 22:54 ET (02:54 GMT)
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