ZYL to list in South Africa

South Africa-focused coal miner ZYL says it will apply for a dual listing of its shares on the Johannesburg Stock Exchange.

ZYL managing director Eric Lilford said the listing was expected to take place in April.

“The listing on the JSE will increase our profile in South Africa and allow investors in South Africa to invest directly in ZYL,” Dr Lilford said in a statement.

“The listing will also provide additional sources of equity and project finance to realise the full potential of ZYL’s Kangwane, Mbila and Southern Anthracite projects.”

Macquarie First South Capital has been appointed ZYL's financial adviser and transaction sponsor.

At 9:41AM (WST) ZYL’s stock had lost 3 per cent, to trade at 15 cents.