Yancoal Australia will be listed in Hong Kong

On the afternoon of November 23, Yancoal Australia Co., Ltd. ("Yancoal Australia") held a press conference on the global offering of shares in Hong Kong to introduce the details of its listing on the Hong Kong Stock Exchange.

　　 Yancoal Australia’s management introduced the arrangements of Yancoal Australia’s global offering of shares and Hong Kong IPO, as well as the development strategy, competitive advantages, and investment highlights of Yancoal Australia to nearly a hundred media reporters.
　　 Yancoal Australia plans to sell approximately 5,944,1900 shares globally (excluding the shares to be provided by the exercise of the over-allotment option), with a maximum offer price of HK$25.84 per share. The Hong Kong public sale time is from November 26th to 29th, 2018.
　　 It is reported that Yancoal Australia plans to be listed on the Hong Kong Stock Exchange on December 6, with stock code 3668, and will then become the first state-owned holding company listed on the main boards of Australia and Hong Kong.
　　 Yancoal Australia was established in 2004 and was listed on the Australian Stock Exchange in June 2012 (stock code: YAL). After more than ten years of development, Yancoal Australia has become Australia's largest franchised coal producer and China's largest overseas franchised seaborne coal producer, mainly supplying high-quality thermal coal and semi-soft coking coal to the Asian market.
Currently, Yancoal Australia owns and operates 5 coal mines, holds close to 50% of the equity in Zhongshan Coal Mine, and manages the other 5 coal mines located in NSW, Queensland and Western Australia. It holds three major coal export terminals in Australia. Have equity. As of June 30, 2018, the coal resources owned and managed by Yancoal Australia reached 5.414 billion tons, and the reserves reached 1.710 billion tons (both calculated on a 100% equity basis).
　　 Yancoal Australia has been committed to maintaining strategic growth and fully exploring new opportunities, focusing on improving operational efficiency, cutting costs, tapping new market opportunities and providing customers with quality products, focusing on creating long-term value for shareholders. In 2017, after the successful acquisition of United Coal, Yancoal Australia holds three of Australia's top five power coal mines including Hunter Valley (HVO), Walker Mountain (MTW) ​​and Moraben. The average remaining service life of the three world-class mines is 43, 23 and 20 years respectively. The longer service life and profitability will become a powerful engine for the company's sustainable development.
　　 In 2017 and the first half of 2018, Yancoal Australia sold 19.3 million tons and 16.2 million tons of commercial coal, operating revenues were 2.601 billion Australian dollars and 2.347 billion Australian dollars, and net profits were 246 million Australian dollars and 361 million Australian dollars respectively.
The global offering of the Hong Kong IPO will give Yancoal Australia the advantage of Yankuang Group's state-owned enterprise background, show the uniqueness of the international management team of Chinese overseas mining companies, highlight the scarcity of high-quality sustainable profitable assets, achieve shareholder diversification, and increase stocks Liquidity, broadening future financing channels, creating international capital market linkages, promoting the company's future international development and enhancing core competitiveness, has an important and far-reaching impact.
This article is transferred from China Coal News Network