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BRIEF-Yancoal Australia Updates On Offer Price Range For Proposed Hong Kong Exchange listing

Published 23/11/2018, 07:18 pm
© Reuters.  BRIEF-Yancoal Australia Updates On Offer Price Range For Proposed Hong Kong Exchange listing

Nov 23 (Reuters) - Yancoal Australia Ltd YAL.AX :

* UPDATES ON PROPOSED LISTING ON STOCK EXCHANGE OF HONG KONG AND OFFER PRICE RANGE

* BOARD DETERMINED THAT OFFER PRICE FOR SHARES OFFERED IN HK LISTING WILL BE WITHIN A RANGE OF HK$23.48 TO HK$25.84 PER SHARE

* HK LISTING IS BEING UNDERTAKEN IN CONJUNCTION WITH A PROPOSED CAPITAL RAISING

* GLOBAL OFFERING WILL COMPRISE AN OFFERING OF INITIALLY 59.4 MILLION SHARES

* IF OFFER IS SUCCESSFUL, FINAL OFFER PRICE IS EXPECTED TO BE DETERMINED ON THURSDAY, 29 NOVEMBER 2018

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

* CAPITAL RAISING TO INVOLVE RIGHTS OFFER AT SAME OFFER PRICE AS ADOPTED FOR GLOBAL OFFERING MADE IN CONNECTION WITH HK LISTING

* YANZHOU COAL MINING, AMONG OHTERS, TO COMMIT TO RENOUNCE THEIR RIGHTS IN FAVOUR OF INVESTORS IN GLOBAL OFFERING

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