8 Jan 2019other● Neutral
Hong Kong monthly share return for December 2018: issued shares rose 563,881 to 1,316,077,537 from the retail offer. The 4,361,900 over-allotment shares, issued 3 January, are noted as outstanding. Administrative filing.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
7 Jan 2019debt financing● Neutral
IBC and UNE, the other Watagan bondholders, will not put their bonds to Yankuang at this time. Only BOCIF's US$200 million of the US$775 million is being put. Yancoal expects no implications.
7 Jan 2019debt financing● Neutral
Hong Kong version of the update: IBC and UNE do not intend to exercise their put options now. No implications expected for Yancoal. Duplicate of the ASX release.
4 Jan 2019other● Neutral
Hong Kong disclosure return: 4,361,900 over-allotment shares were issued on 3 January 2019 at HK$23.48, taking issued shares to 1,320,439,437. Administrative filing for the previously announced over-allotment.
4 Jan 2019debt financing● NeutralMajor
BOCIF exercised its put option, so Yankuang will buy US$200 million of the US$775 million Watagan bonds around 1 April 2019. Yancoal expects no material effect and Watagan stays unconsolidated. Watagan will then owe Yankuang the face value, less capitalised interest.
4 Jan 2019debt financing● Neutral
Hong Kong version of the Watagan announcement: BOCIF put its bonds, US$200 million face value, to Yankuang, with completion expected around 1 April 2019. No material implications expected for Yancoal. Duplicate of the ASX release.
2 Jan 2019other● Neutral
Hong Kong disclosure return: 563,881 shares were issued on 28 December from the retail entitlement offer at HK$23.48, lifting issued shares to 1,316,077,537. Administrative filing confirming the small retail take-up.
31 Dec 2018capital raising announcement● NeutralMajor
Morgan Stanley partly exercised the over-allotment option for 4,361,900 new shares at HK$23.48, and the stabilisation period ended 29 December. Share count rises to about 1,320.4m; Yanzhou's stake dips to 62.26%.
31 Dec 2018other● Neutral
Morgan Stanley stabilisation report: 2,400 shares bought on 28 December, 4,554,300 in total to date. Routine post-IPO price-support disclosure.
28 Dec 2018other● Neutral
Morgan Stanley stabilisation report dated 27 December; text is partly garbled. About 1,800 shares were bought, with a running total near 4,551,900. Routine post-IPO price-support disclosure.
27 Dec 2018other● Neutral
Morgan Stanley stabilisation report: 43,800 shares bought on 24 December, 4,550,100 in total to date. Routine post-IPO price-support disclosure.
24 Dec 2018capital raising announcement● NeutralMajor
The retail shortfall bookbuild could not clear at HK$23.48, so no shortfall shares were sold or issued and holders who did not take up their entitlements received nothing. This concluded the approximately HK$1.41 billion offer, with retail shares due to be allotted on 28 December 2018.
24 Dec 2018other● Neutral
Morgan Stanley stabilisation report dated 24 December; text is partly garbled. Daily purchase appears to be about 4,600 shares, with a running total near 4,506,300. Routine post-IPO price-support disclosure.
21 Dec 2018other● Neutral
Morgan Stanley stabilisation report: the daily figure is unreadable, but the running total is 4,501,700 shares bought. Routine post-IPO price-support disclosure.
20 Dec 2018other● Neutral
Morgan Stanley stabilisation report: 22,000 shares bought on 19 December, 4,491,900 in total to date. Routine post-IPO price-support disclosure.
20 Dec 2018capital raising announcement● Neutral
The retail part of the entitlement offer closed 18 December with just over HK$13.2 million of acceptances. About 7.7 million unclaimed shares go to a shortfall bookbuild on 21 December, at the same HK$23.48 price. Settlement is due 27 December.
19 Dec 2018other● Neutral
Morgan Stanley stabilisation report: 36,400 shares bought on 18 December, 4,469,900 in total to date. Routine post-IPO price-support disclosure.
18 Dec 2018other● Neutral
Morgan Stanley stabilisation report: 160,300 shares bought on 17 December, 4,433,500 in total to date. Routine post-IPO price-support disclosure.
17 Dec 2018other● Neutral
Morgan Stanley stabilisation report: 1,000 shares bought on 14 December, 4,273,200 in total to date. Routine post-IPO price-support disclosure.
14 Dec 2018other● Neutral
Morgan Stanley stabilisation report for 13 December; running total is 4,272,200 shares (the daily figure is unreadable). Routine post-IPO price-support disclosure.
13 Dec 2018other● Neutral
Morgan Stanley stabilisation report: 27,800 shares bought on 12 December, 4,246,800 in total to date. Routine post-IPO price-support disclosure.
12 Dec 2018other● Neutral
Morgan Stanley stabilisation report: 17,200 shares bought on 11 December, 4,219,000 in total to date. Routine post-IPO price-support disclosure.
11 Dec 2018other● Neutral
Morgan Stanley stabilisation report: 52,900 shares bought on 10 December, 4,201,800 in total to date. Routine post-IPO price-support disclosure.
10 Dec 2018other● Neutral
Morgan Stanley daily stabilisation report: 240,000 Yancoal shares bought on the Hong Kong exchange on 7 December, 4,148,900 in total to date. Routine post-IPO price-support disclosure.
7 Dec 2018other● Neutral
Sample letter to shareholders ineligible for the entitlement offer, such as those registered outside Australia and New Zealand. Administrative notice; terms (0.05387 for 1, HK$23.48) are unchanged.
7 Dec 2018capital raising announcement● Neutral
Yancoal sent the retail entitlement booklet and personalised forms to eligible shareholders on 7 December. The offer closes 18 December 2018 at 5pm Sydney time. Administrative notice with no new terms.
7 Dec 2018capital raising announcement● Neutral
Typeset re-release of the retail entitlement offer booklet, dated 29 November 2018. Same terms: 0.05387 for 1 at HK$23.48, closing 18 December. No new information.
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.