(Reuters) - Coal-miner Yancoal Australia Ltd <YAL.AX> said on Monday it applied to list on the Hong Kong Stock Exchange (HKEX) before the end of 2018, while maintaining its ASX listing.
Yancoal also proposed a 35-for-1 share consolidation for shareholders' approval, which its majority shareholder Yanzhou Coal Mining Company Ltd <600188.SS> said it intends to support.
Existing shareholders would be offered the chance to invest in a capital raising proposed to be executed alongside the Hong Kong listing, Yancoal said in a statement. It added that the details of the capital raising were yet to be finalised.
Yancoal said it expects to remain a unit of its Shanghai-listed majority shareholder despite any dilution to Yanzhou Coal's stake due to the capital raising.
(Reporting by Aaron Saldanha in Bengaluru; Editing by Daniel Wallis)
