Nanshan Aluminum Seeks Up to $358 Million in Hong Kong IPO Amid Rising Aluminum Prices

Published: Mar 18, 2025 21:59

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[Nanshan Aluminum Plans to Raise Up to $358 Million in Hong Kong IPO]
On March 17, Nanshan Aluminum submitted a prospectus to the Hong Kong Stock Exchange, aiming to raise up to HK$2.78 billion (approximately $358 million) through an initial public offering (IPO). The IPO plans to issue 88.2 million shares, with an offering price range of HK$26.6–31.5 per share, and is expected to raise between HK$2.35 billion and HK$2.78 billion.

The listing comes amid rising aluminum prices, driven by the European Union's ban on Russian primary aluminum, which pushed aluminum prices to a nine-month high in February this year. Nanshan Aluminum produces alumina in Southeast Asia to meet local market demand for aluminum, a key material in new energy. The company was spun off from China's publicly listed firm Shandong Nanshan Aluminum (600219.SS), which remains one of its major shareholders.

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