Yancoal update on Hong Kong exchange listing

Company News

by Anna Napoli

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.

 

Anna Napoli

Finance News Network
Anna joined FNN February 2018 and also works with Channel 7 as a freelance producer. Anna has also worked as a lawyer and lecturer. She has also presented news updates for interstate news with Southern Cross Austereo.