Reuters reported that Kazakhmys plans to complete a secondary listing in Hong Kong by the end of June, a move that will boost its presence in China.

The company said that it has filed a prospectus with the Hong Kong Stock Exchange and added that it will consider issuing new shares to assist liquidity.

This secondary listing will provide the company with an additional channel to raise capital in the future and gain access to a wider range of institutional and retail investors. The listing will enhance the company's profile in China and in Asia generally and thereby benefit the company's long term growth and development.

In October, Kazakhmys said that a listing in Hong Kong would be natural since the region is important for the company. The company sells the bulk of its products in Asia and it has formed JV with China's Jinchuan Group Limited for its Aktogay project. Shares in the company were indicated up 2% at 1237.03 pence in London. The stock had closed at 1213 pence valuing the business at nearly USD 10.53 billion.

(Sourced from Reuters)