(Adds details of listing application, proposed capital raise)
July 2 (Reuters) - Coal-miner Yancoal Australia Ltd (YAL) said on Monday it applied to list on the Hong Kong Stock Exchange (HKEX) before the end of 2018, while maintaining its ASX listing.
Yancoal also proposed a 35-for-1 share consolidation for shareholders' approval, which its majority shareholder Yanzhou Coal Mining Company Ltd 600188.SS said it intends to support.
Existing shareholders would be offered the chance to invest in a capital raising proposed to be executed alongside the Hong Kong listing, Yancoal said in a statement. It added that the details of the capital raising were yet to be finalised.
Yancoal said it expects to remain a unit of its Shanghai-listed majority shareholder despite any dilution to Yanzhou Coal's stake due to the capital raising.
News: YAL UPDATE 1-Yancoal Australia applies for dual listing in Hong Kong, proposes to consolidate...
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Last
$5.42 |
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-0.060(1.09%) |
Mkt cap ! $7.156B | |||
| Open | High | Low | Value | Volume |
| $5.50 | $5.53 | $5.40 | $5.790M | 1.062M |
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| No. | Vol. | Price($) |
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| 1 | 761 | $5.41 |
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| Price($) | Vol. | No. |
|---|---|---|
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| YAL (ASX) Chart |