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BRIEF-Yancoal Australia Ltd Applies For Dual Listing On Hong Kong Stock Exchange

Published 02/07/2018, 09:41 am
Updated 02/07/2018, 09:50 am
© Reuters.  BRIEF-Yancoal Australia Ltd Applies For Dual Listing On Hong Kong Stock Exchange

July 2 (Reuters) - Yancoal Australia Ltd YAL.AX :

* YANCOAL APPLIES FOR DUAL LISTING ON HONG KONG STOCK EXCHANGE

* 35 FOR 1 SHARE CONSOLIDATION PROPOSED FOR APPROVAL BY SHAREHOLDERS

* APPLICATION TO STOCK EXCHANGE OF HONG KONG ("HKEX") TO LIST YANCOAL SHARES ON A PRIMARY BASIS ON MAIN BOARD OF HKEX

* TO MAINTAIN ITS LISTING ON AUSTRALIAN SECURITIES EXCHANGE FOLLOWING ITS LISTING ON HKEX

* DUAL LISTING ON HKEX TO OCCUR IN CONJUNCTION WITH A PROPOSED CAPITAL RAISING

* EXISTING YANCOAL SHAREHOLDERS TO HAVE OPPORTUNITY TO PARTICIPATE IN PROPOSED CAPITAL RAISING ON PRO-RATA BASIS

* EXPECTS MAJORITY SHAREHOLDER, YANZHOU COAL MINING CO, TO REDUCE ITS PERCENTAGE OWNERSHIP INTEREST IN CO DUE TO CAPITAL RAISING

* EXPECTS TO REMAIN UNIT OF YANZHOU COAL MINING COMPANY LTD AFTER CAPITAL RAISING

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