Yancoal
YAL
is the largest pure-play coal miner in Australia. They have a secondary listing in Hong Kong
3668
.
The shares rank equally and pay largely the same net dividends (2021 Australian dividend was fully non-franked). So, they ought to trade at the same price.
Today, 3668 is trading at close to 10% discount.
YAL
is the largest pure-play coal miner in Australia. They have a secondary listing in Hong Kong
3668
. The shares rank equally and pay largely the same net dividends (2021 Australian dividend was fully non-franked). So, they ought to trade at the same price.
Today, 3668 is trading at close to 10% discount.
Commento:
Prices came back in line today. This reinforces the theory that we had a genuine arb. A stock to watch in the future.