Yancoal applies for dual listing on HKSX

Company News

by Rachael Jones

Coal miner Yancoal (ASX:YAL) has applied for a dual listing on the Hong Kong Stock Exchange to increase liquidity in its shares and diversify its investor base.

The company - which says it remains committed to its listing on the ASX - also plans a capital raising, but did not give details.

Existing Yancoal shareholders will have an opportunity to participate in the proposed capital raising on a pro-rata basis.
Last year the company spent $3.63 billion to buy Coal & Allied from Rio Tinto.

Shares in Yancoal (ASX:YAL) up 3.57 per cent to 14c

Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.