The company plans to issue 89.67 million receipts priced at a maximum of 26.60 Hong Kong dollars each, or approximately $3.40. According to a Wednesday filing, trading is scheduled to commence on the Hong Kong Exchange on June 26. Because the receipts are being sold by existing shareholders, the miner will not receive any net proceeds from the transaction.

This move follows a recent application by Canada’s Silvercorp Metals for a triple-primary listing, signaling a slight uptick in interest from non-Chinese entities. While Hong Kong remains a global hub for initial public offerings, the market has been dominated by mainland firms in recent years. Merdeka Gold Resources, a subsidiary of the Indonesian mining conglomerate Merdeka Copper Gold, has tapped UBS Securities Hong Kong and Citic Securities to serve as joint sponsors for the listing.