Yinson raises RM283mil via private placement

PETALING JAYA: Yinson Holdings Bhd has raised RM283.2mil from a private placement to support its energy transition business.

The energy infrastructure and technology company said the exercise involved 120 million new ordinary shares, representing about 4.1% of its total issued shares, excluding its treasury shares, to a selected group of institutional investors.

Yinson said in a statement the Retirement Fund (Inc) has subscribed to 50 million shares as the anchor investor supporting the transition placement.

It added that the proceeds will be used to expand its renewable and green technology businesses.

This is expected to contribute positively to its earnings potential, while further strengthening its equity and capital base, it said.