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Laopu Gold seeks IPO riches as its glittery margins raise questions

After two failed attempts to list in Shenzhen, the heritage gold seller has redirected its efforts towards the Hong Kong Stock Exchange

This article only represents the author's own views.

Gold prices have risen sharply these last two years amid ongoing geopolitical tensions, breaking the $2,000-per-ounce mark last year and climbing over 15% in the first few months of 2024 alone. The surge has prompted a new listing attempt by Laopu Gold Co. Ltd., which designs, produces and sells gold products.

Laopu markets its flashy goods as heritage gold items that combine contemporary design with time-honored craftsmanship. It says its matte and sandblasted finishes reflect the grandeur of ancient Chinese imperial courts. The company also points out it adheres to several of the China Gold Association's traditional handcrafting standards, applying techniques including free forging, inlaying, enameling, hammering, chiseling, and filigree.

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