Malaysia-based Yinson Holdings Bhd has announced plans to raise up to RM1.22 billion through a right issue with free detachable warrants, as well as a one-for-one bonus issue with an offering of up to 1.11 billion shares. Both the proposals are scheduled to be completed in the second quarter of 2022.
Up to 42.1 per cent of the total revenues from the rights offer have been set aside to finance the group’s RM22 billion floating production storage and offloading (FPSO) project with Petróleo Brasileiro S.A. Remaining portion of the total revenue raised will be used to repay existing bank borrowings for other energy infrastructure projects.