Past year: ▲ 5%(4.96 – 8.29 AUD)
Each one in plain English, with the numbers worked through for a shareholder.
6 Dec 2018capital raising announcement▲ GoodMajor
Institutional entitlement offer completed and Hong Kong trading began 6 December. Yanzhou, China Shandong Investment and Cinda renounced their rights (about 87.8% of the total) to Global Offering investors, so they are likely diluted (inference). Yanzhou and Yankuang face HK lock-ups; retail offer opens 7 December.
5 Dec 2018other● Neutral
Updated constitution, approved by shareholders on 26 September 2018 and effective once shares list on the Hong Kong Main Board. Administrative document; the visible text shows no specific changes beyond that.
5 Dec 2018capital raising announcement● Neutral
Yancoal said Hong Kong IPO allocation results were released to HKEx on 5 December. The notice gives no new figures; the raising was already priced at HK$23.48 with 68,358,100 shares allocated.
4 Dec 2018capital raising announcement● Neutral
Yancoal said the institutional part of its entitlement offer has finished and no reason remains for the trading halt to continue. Procedural update on the raising; no new terms.
30 Nov 2018asset acquisition disposition▲ GoodMajor
Yancoal completed buying an extra 4% of the Moolarben Joint Venture from KORES, lifting its stake from 81% to 85%. This is the purchase flagged as a use of the raising proceeds. Remaining holders are Korean companies (5%) and Sojitz (10%).
30 Nov 2018capital raising announcement● Neutral
Retail booklet for the 0.05387-for-1 entitlement offer at HK$23.48 per share (payable in A$ or US$), closing 18 December 2018. Repeats terms already announced and carries no new decisions; no cooling-off rights apply once an application is accepted.
29 Nov 2018capital raising announcement▲ GoodMajor
Yancoal priced its Hong Kong IPO at HK$23.48 (A$4.15), the bottom of the range, allocating 68,358,100 shares to raise HK$1.605bn, fully underwritten. It then launched the 0.05387-for-1 entitlement offer at the same price, up to about HK$1.589bn, a 27.7% premium to the A$3.25 ASX close. Hong Kong trading is expected 6 December.
26 Nov 2018other● Neutral
Part 4 of the Hong Kong prospectus: mining-limit maps and the start of JORC disclosure tables for HVO and Mount Thorley Warkworth, noting 2,628 boreholes support the MTW resource estimate. No new headline resource or reserve figures.
26 Nov 2018other● Neutral
Sample YELLOW application form for the Hong Kong public offer, for shares deposited into the HK clearing system. Maximum price HK$25.84; applications capped at 2,972,100 shares. Administrative document with no new information.
26 Nov 2018other● Neutral
Part 2 of the Hong Kong prospectus: competent person's report sections, including Donaldson cross-section figures and Middlemount geology (Bowen Basin coal seams). Technical background only; no new resource figures or decisions can be drawn from the text provided.
26 Nov 2018capital raising announcement● NeutralMajor
Yancoal launched its fully underwritten Hong Kong IPO at HK$23.48-25.84 (A$4.09-4.50) per share, with Shaanxi Coal and Chemical as a cornerstone investor taking about US$40m. A follow-on entitlement offer of 0.05387 new shares per share is planned at the same price. Proceeds go mainly to debt repayment and the Moolarben stake. Final pricing is expected 30 November.
26 Nov 2018capital raising announcement● Neutral
Yancoal issued its Hong Kong prospectus (stock code 3668) for 59,441,900 shares, with 5,944,200 for Hong Kong retail and 53,497,700 international. Maximum price is HK$25.84; pricing is expected around 29 November, no later than 5 December.
26 Nov 2018other● Neutral
Part 5 of the Hong Kong prospectus: resource maps for Stratford, Duralie, Grant & Chainey, Austar and Donaldson, plus the start of a tenement list. No new figures or company decisions can be drawn.
26 Nov 2018other● Neutral
Application form for White Form eIPO service providers applying for Hong Kong offer shares on behalf of clients. Repeats the 5,944,200 Hong Kong share allocation and HK$25.84 maximum price. Administrative document with no new information.
26 Nov 2018other● Neutral
Part 3 of the Hong Kong prospectus: mostly site layout maps from the competent person's report for Ashton, Stratford Duralie, Austar, Donaldson, Yarrabee, Monash and HVO. No readable figures or new information.
26 Nov 2018other● Neutral
Sample WHITE application form for the Hong Kong public offer, which lets retail applicants hold shares in their own name. Maximum price HK$25.84; applications capped at 2,972,100 shares. Administrative document with no new information.
23 Nov 2018other● Neutral
Part 2 of the updated draft Hong Kong information pack: competent person's report sections on rail and port infrastructure in New South Wales and Queensland. No new resource figures or company decisions appear in the text provided.
23 Nov 2018investor presentation● Neutral
November roadshow presentation titled 'Australia's Largest Pure-Play Coal Producer', prepared with the sponsors. Text provided is only the contents page and disclaimer, so no new figures can be drawn.
23 Nov 2018other● Neutral
Part 4 of the updated draft Hong Kong information pack: competent person's report reserve-assessment tables, including Moolarben processing yields and infrastructure. No new headline resource or reserve figures can be drawn from the text provided.
23 Nov 2018other● Neutral
Part 1 of the updated draft Hong Kong information pack. It is a warning cover and disclaimers, with offer size and price redacted. The document is incomplete and subject to change, so there are no new decisions.
23 Nov 2018other● Neutral
Part 5 of the updated draft Hong Kong information pack: mostly resource maps for Stratford, Grant & Chainey and Austar from the competent person's report. No readable figures or new information.
23 Nov 2018capital raising announcement● Neutral
Yancoal lodged a second post-hearing information pack with HKEx on 22 November. Raising terms are due in the prospectus around 26 November. Existing holders can take part pro rata, and the listing still needs final HKEx approval and suitable markets.
23 Nov 2018capital raising announcement● NeutralMajor
The board set a Hong Kong offer range of HK$23.48-25.84 (A$4.09-4.50) per share against A$3.06 on ASX. The Global Offering is 59.44m shares plus up to 8.92m over-allotment, alongside a rights offer at the same price. Yanzhou, China Shandong and Cinda will renounce their rights to Global Offering investors.
23 Nov 2018other● Neutral
Part 3 of the updated draft Hong Kong information pack: mainly site and pit-limit maps from the competent person's report for HVO, Mount Thorley Warkworth, Moolarben and Yarrabee. No readable figures or new information.
21 Nov 2018price query● Neutral
Yancoal responded to a Hong Kong press report, confirming its dual Hong Kong listing and capital raising plans are well progressed. It intends to launch a roadshow by end-2018, subject to market conditions and HKEx approval. No new terms were given.
17 Oct 2018debt financing▲ Good
Yancoal prepaid a further US$100m: US$50m to Bank of China and China Construction Bank and US$50m to unsecured Yanzhou-related loans. Total prepayments since Coal & Allied reach US$900m.
2 Oct 2018other● Neutral
Part 1 of the draft Hong Kong post-hearing information pack. Offer size and price are redacted, and the document is incomplete and subject to material change. No new decisions are disclosed in the text provided.
2 Oct 2018other● Neutral
Part 2 of the draft Hong Kong information pack, containing the competent person's report with maps and a scoping-level underground mining discussion for Hunter Valley Operations ('Project Hunting Eagle'). No resource figures appear in the text provided.
2 Oct 2018capital raising announcement● NeutralMajor
Hong Kong listing application is 'well advanced', with a draft post-hearing information pack published. Proceeds would repay debt, fund a 4% Moolarben interest purchase, possible acquisitions and working capital. Size and price remain unset, and approval is not assured.
2 Oct 2018other● Neutral
Part 3 of the draft Hong Kong information pack: mostly maps of Ashton resource polygons from the competent person's report. No readable figures or new information.
