Yancoal
(ASX:YAL) has announced its application for listing on the Hong Kong stock exchange is well advanced.
The miner has applied for dual-primary listing in the interests of increasing liquidity and to help further diversify its investor base.
Yancoal says the listing will be undertaken in conjunction with a proposed capital raising.
Proceeds from the raising will be used for a number of purposes including to repay outstanding debts and finance potential acquisitions.
Yancoal expects majority shareholder Yanzhou Coal Mining Company will reduce its percentage ownership as a result of the capital raising but Yancoal will remain a subsidiary of Yanzhou.
