Zijin Mining Group, the mainland's second-largest gold miner, will start selling 1.5 billion A shares next week as the company moves to speed up overseas acquisitions.
The company received regulatory approval for its initial public offering on December 26 but had faced delays because of the volatile market conditions. The share sale could start as early as Monday.
Company secretary Zheng Yuqiang said Zijin would make an announcement on Sunday about the listing issue but declined to provide further details.
'It is not a very good time for Zijin to float shares,' said Haitong Securities analyst Zhang Qi. 'But the market definitely views Zijin as a good company.'
Delays in the offering had been attributed to the weak market sentiment and 'technical adjustments'.
A company cannot start initial public offering sales without the approval of the China Securities Regulatory Commission even after it passes the application procedure.
Zijin has yet to set the price range for its A shares and will start price consultations with institutional investors next week.
