By Megan Cheah

Shares of Xizang Zhihui Mining rose sharply in their Hong Kong trading debut, suggesting strong investor demand for new listings in the city's booming equities market.

The stock more than doubled to 10.92 Hong Kong dollars from its initial public offering price of HK$4.51, before paring gains to trade at HK$9.40.

Chinese zinc miner Xizang Zhihui Mining raised HK$550.0 million, equivalent to US$70.7 million, through the sale of 121.95 million shares in its IPO.

The 12.2 million shares offered to Hong Kong investors were around 5,248 times subscribed, while the remaining shares offered to international investors were 2.68 times subscribed.

Based in Xizang, China, the company also mines lead and copper, it said.

The miner intends to use the proceeds from the offering to enhance its mining capacity, buy high-capacity machinery and equipment, and install an energy-efficient ore haulage system, among other purposes.

Chinese mining stocks have been on a tear this year as metal prices hit record highs. In particular, prices of copper--a crucial industrial metal used in electric vehicles and power grids--have surged as continuing disruptions at major mines spark worries about supply.

Hong Kong has been one of the most active listing venues this year. Funds raised through IPOs in the first 11 months of 2025 totaled HK$259.4 billion, more than triple the amount raised in the same period a year earlier, according to data from Hong Kong Exchanges & Clearing.

Sinolink Securities Hong Kong and Maxa Capital were the joint sponsors of Xizang Zhihui Mining's IPO.

Write to Megan Cheah at megan.cheah@wsj.com

(END) Dow Jones Newswires

December 18, 2025 21:55 ET (02:55 GMT)

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