AIM-LISTED Kryso Resources yesterday announced that it plans to de-list in London and list in Hong Kong, due to its ties to the Chinese market.
A large part of the Tajikistan-focused mineral explorer’s shareholder base is Chinese and the company said that such a move would “represent an attractive platform for the continued growth of the Kryso Group”.
Kryso has appointed advisers to explore the listing but no application has been made yet.
“There have been murmurings of a Hong Kong listing for some time,” Hunter Hillcoat, mining analyst at Investec Securities, told City A.M.
“As well as having Chinese shareholders, Tajikistan – where Kryso operates – is a trading partner in China whereas it is not so common in the UK.”
However, Hillcoat added that listed mining entities have not fared that well in Hong Kong recently, which could make it much harder for Kryso.
“I wouldn’t see them listing there in the near term as it is by no means an ideal market,” he said.
Chinese investment firm China Nonferrous Metals International Mining is a major shareholder in Kryso, holding a 38.5 per cent stake.