YINSON 7293 YINSON HOLDINGS BERHAD fixes two-for-five rights issue at RM1.41
KUALA LUMPUR (May 11): Yinson Holdings Bhd has fixed its rights issue price at RM1.41 apiece on an entitlement basis of two rights shares for every five existing shares held, to raise gross proceeds of up to RM1.21 billion.
The rights issue comes with free detachable warrants, on the basis of three warrants for every seven rights shares subscribed, with an exercise price of RM2.29 apiece.
Shares of Yinson traded unchanged at RM2.28 apiece on Wednesday (May 11). The group has already secured the undertaking for the rights issue from its major shareholder, the Lim family, which controls 27.53% in the company.
The issue price of RM1.41 represents a discount of approximately 32.21% to the theoretical ex-rights price of Yinson shares of RM2.08, Yinson said.
This is based on the five-day volume-weighted average market price of Yinson shares of RM2.3587 up to and including May 10, the date prior to the price-fixing date.
It also took into consideration the discount range of other precedent rights issue exercises in particular those of oil and gas companies.
"Based on the above, the number of shares in issue as at April 30, 2022, and assuming that 16.14 million outstanding employee share scheme options are exercised, the company will raise maximum gross proceeds of RM1.21 billion," it said.
Of the proceeds, the floating production storage and offloading (FPSO) vessel operator wants to utilise over RM770 million for its upcoming FPSO projects, over RM320 million for loan repayments, RM44 million for renewable energy and green technology business expansion, and RM55 million for working capital.
AmInvestment Bank is the managing underwriter and joint underwriter, while Maybank Investment Bank Bhd and Kenanga Investment Bank Bhd are joint underwriters to underwrite 100% of the rights issue for which no undertakings have been obtained.
Yinson has 2.21 billion issued shares following its bonus issue on April 12, of which 84.89 million shares are treasury shares.
At its last close of RM2.28, the group has a market capitalisation of RM5.03 billion.
http://www.theedgemarkets.com/article/yinson-fixes-twoforfive-rights-issue-rm141
Singapore Investment
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
Portfolio Summary for June 20252 days ago
-
-
Portfolio Update Q2 20252 days ago
-
-
-
Portfolio (June 30, 2025)2 days ago
-
Portfolio (June 30, 2025)2 days ago
-
-
Portfolio Update June 20252 days ago
-
-
-
-
-
Month of June 20252 days ago
-
June 2025 Updates2 days ago
-
-
-
-
-
-
-
Batisht crazy!5 days ago
-
-
Will SORA crash to 1 per cent?5 days ago
-
-
-
Hello world!1 week ago
-
-
Cut back some exposure1 week ago
-
-
-
-
-
-
8 tips for house moving1 week ago
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
May 2025 Portfolio4 weeks ago
-
-
-
Thakral - Gem life deal finally coming?5 weeks ago
-
-
-
-
-
Clarity1 month ago
-
The Trump Tariffs1 month ago
-
Selling HRnet and Fiverr1 month ago
-
-
-
-
Ignore the noise and be calm2 months ago
-
-
-
-
FAQ on Quantitative Investing Part 22 months ago
-
-
-
-
Crossing the 300k Mark [in a volatile period]2 months ago
-
-
-
-
-
-
-
-
-
ETF vs Mutual Fund: Which is Better?5 months ago
-
-
-
-
-
-
Arigato Everyone! A Decade of Blogging!6 months ago
-
Top 10 Highlights of 20246 months ago
-
-
-
Union Square Residences8 months ago
-
-
-
STI ETF9 months ago
-
-
-
Unibet Casino Bonus Codes 20249 months ago
-
-
-
-
The Stigma against Early Retirement (FIRE)11 months ago
-
Monthly IBKR Update – June 202411 months ago
-
-
-
-
-
-
-
-
-
Feb 2024 Expenditure1 year ago
-
-
-
-
-
-
-
Monthly Summary of November 20231 year ago
-
Migration of website1 year ago
-
-
-
-
-
-
Hello SP Group, I'm Back!2 years ago
-
-
-
A New Light2 years ago
-
-
-
-
-
2022 Thoughts, Hello 2023!2 years ago
-
Series of Defaults for Maple Finance2 years ago
-
Takeaways from “Sea Change”2 years ago
-
Greed is Coming Back2 years ago
-
-
-
-
-
-
-
-
What is Overemployment3 years ago
-
Terra Hill Condo (former Flynn Park)3 years ago
-
Alibaba VS Tencent: The Battle Royale3 years ago
-
-
-
-
-
-
-
-
-
-
-
-
-