Yancoal Australia Ltd Announces Partial Exercise Of The Overallotment Option

Yancoal Australia Ltd Announces Partial Exercise Of The Overallotment Option

On 28 December 2018 in respect of an aggregate of 4,361,900 new shares, the Company announces that Morgan Stanley & Co partially exercised the Over-allotment Option described in the Prospectus. The over-allotment shares are to be allotted and issued by the Company at HK$23.48 per share being the Offer Price per Offer Share under the Global Offering. After the last day for the lodging of applications under the Hong Kong Public Offering, concerning the Global Offering ended on Saturday, 29 December 2018 the company further announces that the stabilization period being the 30th day. [optin-monster-shortcode id=”swikrbu1d9j9aq0o4cko”]

Further information of stabilizing actions undertaken by the Stabilising Manager, Morgan Stanley Asia Limited, was that permission to deal with an approval for the listing of over-allotment Shares has already been granted by the Committee of the Hong Kong Stock Exchange. To commence on the board of the Hong Kong Stock Exchange at 9:00 a.m. on Thursday, 3 January 2019, a listing of and dealings in the Over-allotment Shares are expected.

From strict compliance as per the requirements under Rule 8.08(1) of the Listing Rules, the HKSE has granted a waiver to the company under which the public float may fall below 25% of the total issued share capital of the Company. The minimum public float of the company shall be the higher of 15.05% and the shares to be held by the public immediately after completion of the Global Offering and exercise of the Over-allotment Option.

The number of the company’s shares held by the public will represent approximately 15.39% of the total share capital, instantly following the allotment and issue of the Over-allotment Shares. This situation satisfies the minimum public float requirement under Rule 8.08(1) of the Listing Rules as amended by the public float waiver granted by The Hong Kong Stock Exchange to the company.

Yancoal Australia Limited (ASX: YAL) traded flat today as, at December 31, 2018, to be at $3.920 and the stock’s performance change over the past 12 months has been -13.85%. The market cap at the current market price if $5.16 billion. The stock delivered an annual dividend yield of 2.64 percent.


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