Heaven-Sent Gold Seeks $200 Million in Hong Kong IPO
(Bloomberg) -- Heaven-Sent Gold Group Co., owner of two South African gold mines, is planning to raise about $200 million in an initial public offering in Hong Kong, according to people with knowledge of the matter.
The company aims to start the share sale as soon as the end of this year after it filed an application with the city’s bourse on Oct. 3, said the people, who asked not to be identified as the information is private. Heaven-Sent Gold owns South Africa’s Tau Lekoa gold mine, which it acquired in 2015, as well as the Kopanang mine it bought last year.
Heaven-Sent Gold had an annual gold production volume of 168,031 ounces in 2018, according to a preliminary prospectus to the stock exchange. The company expects to post a net loss in 2019 as production was affected by underground seismic events at the Tau Lekoa mine, the prospectus said. Beijing-based private equity firm Heaven-Sent Capital Management Group is the mining company’s parent.
Representatives for Heaven-Sent Gold and Heaven-Sent Capital Management declined to comment. CLSA Ltd. is the sole sponsor for the deal, according to the prospectus.
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