Trading In Yinson's Shares Suspended Pending Announcement

KUALA LUMPUR, Jan 14 (Bernama) -- Yinson Holdings Bhd’s shares were suspended from trading on Tuesday (Jan 14) from 9 am, pending an announcement from the energy infrastructure firm.

The counter’s last trade stood at RM2.70 per share, with a market capitalisation of RM8.66 billion.

In a filing with Bursa Malaysia today, Yinson said the request for suspension was made under subparagraph 3.1(a) of Practice Note 2 on Request for Suspension of the Main Market Listing Requirements of Bursa Securities.

It said Bursa Securities approved the company’s request for suspension until the end of the trading day on Jan 14.

It was reported that Yinson is close to securing investors for a funding round for its unit that produces offshore oil and gas equipment.

The report said the Abu Dhabi Investment Authority (ADIA), British Columbia Investment Management (BCI), and RRJ Capital are set to subscribe to US$1 billion (US$1 = RM4.50) in redeemable convertible preference shares, possibly as soon as this week, with another US$500 million to follow later.

-- BERNAMA