Yinson offers 120 million shares to aid energy transition efforts

KUALA LUMPUR: Yinson Holdings Bhd has completed an accelerated book-building exercise, placing out 120 million new ordinary shares, representing about 4.1% of the total number of issued shares (excluding treasury shares) of the group, to a selected group of institutional investors. In total, Yinson raised RM283.2 million in proceeds from this energy transition placement exercise.

Kumpulan Wang Persaraan (Diperbadankan) [KWAP] subscribed 50 million shares as the anchor investor supporting the transition placement. As a signatory to the UN Principles for Responsible Investment (UN PRI), KWAP’s commitment towards responsible investment practices underscores this mobilisation of capital.

The proceeds will primarily be used to expand Yinson’s renewables and green technology businesses. This move is expected to contribute positively to the group’s earnings potential moving forward while further strengthening the group’s equity and capital base. AmInvestment Bank has been appointed as the adviser and placement agent for this exercise.

Yinson Group CEO Lim Chern Yuan said, “Prospects for our 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. Proceeds from this placement will enable us to accelerate our strategic plans for Yinson Renewables and Yinson GreenTech to capitalise on market opportunities.”

Hazman Hilmi Sallahuddin, chief investment officer at KWAP said, “We are proud to support Yinson’s energy transition endeavours as an anchor investor in this placement. Our investment aligns with our commitment to responsible investing, which we have firmly committed to as a signatory to the UN PRI.”