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Yancoal Australia raises further HK$99.9M from partial overallotment exercise

Yancoal Australia Ltd. secured another HK$99.9 million in net proceeds from an overallotment option related to its recent Hong Kong IPO.

The company said Dec. 31 that Morgan Stanley & Co. International PLC partially exercised its option on 4,361,900 shares at HK$23.48 apiece, slightly less than half of the total available.

Yancoal Australia noted that the deal will result in approximately 15.39% of its shares being held by the public, satisfying a minimum public float requirement from the Hong Kong Stock Exchange.