On the afternoon of November 23, Yancoal Australia Limited (“Yancoal Australia”) held Press Conference on the global offering and introduced details of listing on the Hong Kong Stock Exchange (HKEX).
Around 100 journalists attended the conference and Yancoal Australia management introduced the plans of global share offering and IPO in Hong Kong as well as development strategies, competitive advantages and investment highlights.
Yancoal Australia will offer about 59,441,990 Yancoal Australia shares (excluding any Yancoal Australia shares to be offered pursuant to the exercise of an over- allotment option) and the high end of the offer price is HK$25.84 per share. The public offering in Hong Kong is from 26 November 2018 to 29 November 2018.
It is reported that Yancoal Australia (stock code: 3668) proposed to IPO on the HKEX on 6 December. By then Yancoal Australia will become the first state-controlled-company listed on the main boards of Australian Securities Exchange (ASX) and HKEX.
Established in 2004, after more than 10 years growth, Yancoal Australia has become the largest pure coal producer in Australia and the largest Chinese-funded overseas independent coal producer, which is listed on ASX (stock code: YAL) in June 2012. In the year of 2017 and the first half of 2018, Yancoal Australia has sold product coal of 19.3 million tonnes and 16.2 million tonnes, respectively, realized operating revenue of AUD2.601 billion and AUD2.347 billion, respectively and net profit of AUD246 million and AUD361 million, respectively.