yancoal

Yancoal announces Hong Kong initial public offer and proposed Australian entitlement offer

Yancoal Australia has announced that it is in the process of undertaking a Hong Kong initial public offering of its fully paid ordinary shares on the Main Board of the Stock Exchange of Hong Kong.

The offer price for Shares offered in connection with the Global Offering will be determined within a range of
HK$23.48 to HK$25.84 per Share (representing A$4.09 to A$4.50 per Share1).

The closing price of Yancoal shares on ASX on Friday, 23 November 2018 was A$3.06.The Global Offering will proceed if a number of key conditions have been met, including:

  • following an institutional bookbuild an Offer Price is determined within the offer price range outlined
    above on or before Wednesday, 5 December 2018; and
  • the Company entering into the following underwriting agreements with respect to the Global Offering
    Yancoal expects to announce the final pricing for the Global Offering on Friday, 30 November 2018.

    • o in respect of the Hong Kong Public Offering , an underwriting agreement with Morgan Stanley
    • Asia Limited, CMB International Capital Limited, BOCI Asia Limited, Citigroup Global Markets Asia Limited, CCB International Capital Limited, China Everbright Securities (HK) Limited, Cinda International Securities Limited, Haitong International Securities Company Limited and Zhongtai International Securities Limited. This agreement was entered into on Friday, 23 November 2018; and
    • o in respect of the International Offering, an underwriting agreement with Morgan Stanley & Co. International plc, CMB International Capital Limited, BOCI Asia Limited, Citigroup Global Markets Limited, CCB International Capital Limited, China Everbright Securities (HK) Limited, Cinda International Securities Limited, Haitong International Securities Company Limited and Zhongtai International Securities Limited,  which, together, provide for the underwriting of the Global Offering on the terms and conditions of the Underwriting Agreements, which are summarised in the section headed “Underwriting” in the Prospectus, and the Underwriting Agreements becoming and remaining unconditional and not having been terminated.

Subject to the Global Offering meeting the conditions set out in the “Structure of the Global Offering”
section of the Prospectus, settlement of the Global Offering and commencement of trading of the Shares on
the HKEx is expected to occur on Thursday, 6 December 2018.

Upon the Global Offering meeting the conditions noted above, Yancoal will also announce on Friday, 30
November 2018 a pro?rata accelerated renounceable entitlement offer under which eligible shareholders will have the opportunity to subscribe for 0.05387 new Shares for every 1 existing Shares in the Company which they hold at 7.00pm (Sydney, Australia time) on Tuesday, 4 December 2018.

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