Jiaxin International Resources Investment (HKG:3858) raised HK$1.09 billion in net proceeds from its initial public offering in Hong Kong, according to a Wednesday after-market bourse filing.

The tungsten-mining firm priced its 109,808,800 shares at HK$10.92 each.

The Hong Kong public offer was 2,041.62 times oversubscribed, with the final allocation of 10,981,200 shares, or 10% of the total offering, unchanged from the initial allotment.

The international offering was 21.11 times subscribed, with 98,827,600 shares, or 90% of the total offering, allocated to institutional investors.

An over-allotment of 16,471,200 shares was made under the international tranche.

Cornerstone investors, including China Cinda (HK) Asset Management, Luyin Trading, GF Fund Management, GF International Investment Management, Fullgoal Asset Management (HK), Fullgoal Fund Management, and Zhengxin Group Investment, were allotted a combined 54,904,400 shares, or 50% of the global offering.

Jiaxin International Resources is set to debut on the Hong Kong bourse on Thursday, Aug. 28.