KUALA LUMPUR: Yinson Holdings Bhd has raised RM283.2 million following the completion of an accelerated book-building exercise, representing 4.1 per cent of its total number of issued shares (excluding treasury shares).
The shares were issued to a selected group of institutional investors including
The Retirement Fund Inc (KWAP).
The proceeds will primarily be used to expand Yinson's renewables and green technology businesses.
"This move is expected to contribute positively to the company's earnings potential moving forward while further strengthening its equity and capital base," it said.
Yinson group chief executive officer Lim Chern Yuan said the prospects for its renewables and green technologies businesses have never been stronger, given the world's critical need to strengthen global clean energy infrastructure to facilitate a just and equitable energy transition.
Lim said proceeds from this placement will enable the company to accelerate its strategic plans for Yinson Renewables and Yinson GreenTech to capitalise on market opportunities.
"This will contribute to stronger, sustained returns over the long-term," he said in a statement.
KWAP chief investment officer Hazman Hilmi Sallahuddin said the investment aligns with its commitment to responsible investing, which it has firmly committed to as a signatory to the UN PRI.
"By mobilising capital towards energy transition initiatives, we aim to foster positive environmental impact while delivering long-term value to our stakeholders," said Hazman.