Jiaxin International Resources Investment Ltd. (Ticker: 3858 HK) is a Hong Kong-based mining company focused on the development of the Boguty tungsten mine in Kazakhstan. The company plans to list on the Hong Kong Stock Exchange on August 28, 2025, offering 109.81 million shares at HKD 10.92 each, raising approximately HKD 1.20 billion (USD 153.5 million). At the IPO price, Jiaxin International Resources will have a market capitalization of about HKD 4.80 billion (USD 614 million). The Boguty Project, which commenced phase I production in April 2025, is reported to be the world’s largest open-pit tungsten mine by mineral resources and has one of the highest designed production capacities among single tungsten mines globally. IPO proceeds are reportedly earmarked for expanding mining capacity, developing downstream processing facilities for tungsten products, and pursuing additional nonferrous metal resource investments in Central Asia. Underwriters include ABCI Capital, CMB International, and others.