Zijin Gold International (HKG:2259) raised HK$24.47 billion in net proceeds from its initial public offering in Hong Kong, with the final offer price set at HK$71.59 per share.

The unit of Zijin Mining (SHA:601899, HKG:2899) offered 348,990,700 shares, according to a Monday after-market filing with the Hong Kong Stock Exchange.

The Hong Kong public offer was 240.74 times oversubscribed, with the final allocation of 34,899,100 shares, or 10% of the total offering.

The international offering was 20.38 times subscribed, with a final allocation of 296,642,000 shares, excluding 17,449,600 reserved shares under the preferential tranche, bringing the international total to 314,091,600 shares, or 90% of the global offering.

An overallotment of 52,348,600 shares was made under the international tranche.

Cornerstone investors, including GIC, HHLR Advisors, BlackRock, Schroders, Perseverance Asset Management, Shanghai Gaoyi, FIL Investment, Shanghai Greenwoods, Baillie Gifford, Taikang Life, China Universal Asset Management, UBS Asset Management, GF International, and Oaktree Capital Management, were allotted a total of 174.2 million shares, representing about 49.9% of the global offering.

Zijin Gold International is scheduled to debut on the Hong Kong bourse on Tuesday, Sept. 30.

The listing is set to become the second-largest listing in Hong Kong this year, after Contemporary Amperex Technology, or CATL (HKG:3750; SHE:300750), which raised HK$41 billion.