PERTH (miningweekly.com) – ASX-listed Yancoal has denied reports that it has taken a firm decision for a dual primary listing in Hong Kong.
The company was responding to reports that a dual listing was planned for later this year, which could raise between $600-million and $800-million.
Yancoal told shareholders that while the company continued to consider several options to help improve the liquidity of its shares and support its continued growth, no decision has yet been made to pursue dual primary listing.
Furthermore, the company said that there was no certainty that such a transaction would proceed.
The China-backed Yancoal holds a number of coal operations in Australia, and in 2017 acquired mining major Rio Tinto subsidiary Coal & Allied for $2.69-billion.