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Yancoal fetches HK$13.2M from retail entitlement offering

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Yancoal fetches HK$13.2M from retail entitlement offering

Yancoal Australia Ltd. raised over HK$13.2 million from the retail component of its 0.05387-for-1 pro rata accelerated renounceable entitlement offer, the company said Dec. 20.

The shares under the offer will be issued at HK$23.48, with settlement targeted by Dec. 27. They will be allotted Dec. 28 and begin trading Dec. 31.

Yancoal, which recently debuted on the Hong Kong Stock Exchange, aimed to raise HK$1.59 billion from the offer.

The company added that it will put up for sale 7.7 million retail entitlements not taken up by shareholders. The bookbuild for the shortfall shares is expected to be completed Dec. 21.