On the first day of trading, PERSISTENCE RES made its debut on the stock market with a 7.27% decline in the morning session.
PERSISTENCE RES has made its debut on the stock market, issuing 500 million shares at a price of HKD 0.55 per share, with a minimum trading unit of 5,000 shares. The net proceeds from the offering amount to approximately HKD 217 million. As of the time of writing, the stock has dropped by 7.27% to HKD 0.51, with a trading volume of HKD 19.0138 million. It is reported that PERSISTENCE RES is a company engaged in gold exploration, mining, and processing. The company explores and mines gold-bearing ore, processes it into gold concentrate, and sells the refined Au99.95 gold ingots made from the processed gold concentrate to third-party smelters, which are then sold on the Shanghai Gold Exchange. By independently listing its shares on the Main Board of the Stock Exchange of Hong Kong, the listing will constitute a spin-off from Majestic Gold. According to a report by Frost Sullivan, PERSISTENCE RES is the third-largest gold mining company in Shandong Province in 2022, with a market share of 2.6% (based on mine output). However, in terms of gold production, the combined market share of the two major participants is approximately 78.3%.
Zhitong App has learned that PERSISTENCE RES (02489) has made its debut on the stock market. The company has issued 500 million shares at a price of HKD 0.55 per share, with a minimum trading unit of 5,000 shares. The net proceeds from the offering are approximately HKD 217 million. As of the time of writing, the stock has dropped by 7.27% to HKD 0.51, with a trading volume of HKD 19.0138 million.
It is reported that PERSISTENCE RES is a company engaged in gold exploration, mining, and processing. The company explores and mines gold-bearing ore, processes it into gold concentrate, and sells the Au99.95 gold ingots made from the processed gold concentrate to third-party smelters, which are then sold on the Shanghai Gold Exchange. By independently listing its shares on the Main Board of the Stock Exchange of Hong Kong, the listing will constitute a spin-off from Majestic Gold.
According to a Frost Sullivan report, PERSISTENCE RES is the third-largest gold mining company in Shandong Province in 2022, with a market share of 2.6% (based on mine production). However, in terms of gold production, the combined market share of the two major participants is approximately 78.3%.