PRECIOUS METALS | Indonesian Gold Miner Merdeka Gold Resources Seeks Hong Kong Listing

Indonesian gold mining company Merdeka Gold Resources (MGR) has applied for a listing in Hong Kong, marking a significant step towards becoming the first company to be listed in both Indonesia and Hong Kong. According to Ming Pao, the application was submitted last Friday. MGR operates the Pani gold mine in East Java and has experienced losses over the past three years. The company aims to attract international institutional investors through the Hong Kong listing. Currently, MGR's market capitalization on the Indonesian stock exchange is nearly 14 trillion Indonesian rupiah, equivalent to 6.5 billion Hong Kong dollars.