No, you're the one who needs to get on line and read. They are not offering to exchange for H shares. They are offering to exchange for convertible bonds in Yankuang Energy, which will only convert at a 50% premium. Yankuang has 107 billion RMB debt and I imagine this issue will be subordinate to most of that. If Yankuang manages by hook or crook to acquire over 90% of the shares, then the rest of us may be forced to accept this lousy deal.
News: YAL Yankuang Energy Plans To Increase Shareholdings In Yancoal Australia, page-63
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