Yancoal Australia Ltd ("Yancoal" or the "Company", Stock code: 3668.HK), Australia's largest pure-play coal producer, successfully listed on the Main Board of The Stock Exchange of Hong Kong Limited ("HKEx") on December 6 at 9:30 am Beijing Time. As part of its HK Listing, Yancoal also conducted a global offering and has issued 59,000,000 shares at an offer price of HK$23.48 per share. Yancoal is now the first state-owned holding company dual primary listing on both the HKEx and the Australian Securities Exchange ("ASX").
Mr. Li Xiyong, the Chairman of Yankuang Group and the Secretary of Yankuang Committee of the CPC and Dr. Geoff Raby, an independent non-executive director of Yancoal, struck the gong symbolizing the listing of Yancoal on the HKEx.
Mr. Zhang Baocai, member of Yankuang Standing Committee of the CPC, Director of the Board of Yankuang and Chairman of Yancoal, delivered a speech. He comments:＂As the first state-owned holding company dual listed on the main boards of HKEx and ASX, Yancoal will further leverage the background advantages of Yankuang's state-owned enterprises, demonstrate the uniqueness of the international management team of Chinese-funded overseas mining companies, and make best use of the rare high quality assets to achieve sustainable profitability and diversify its shareholder via the new listing platform, broadening future financing channels, creating international capital market linkages, promoting the company's future international development and enhancing its core competitiveness. In the future, Yancoal will focus more on promoting operational efficiency, cutting costs, grasping market opportunities and providing better products to customers, striving to create long-term maximum value for shareholders and company customers, and creating beautiful scenery for capital markets and shareholders.＂
Sun Xiangyi, Director of Economic Affairs of Liaison Office of the Central People’s Government in HKSAR, went to the HKEx to express his congratulations on the successful listing of Yancoal and met with Mr. Li Xiyong and Yancoal management.
Mr. Li Xiyong acknowledged that the listing of Yancoal on the HKEx is an important milestone for the global strategic implementation of Yankuang. The listing in Hong Kong will provide Yancoal with broader development opportunities and will be able to link Australia's best assets to Asian investors. In the future, Yancoal will be able to grow rapidly and become one of the best companies in the Hong Kong stock market.