• Yinson Production has entered into a definitive agreement with a consortium of global investment firms to raise pre-IPO growth capital of USD 1 billion, with the option to upsize to USD 1.5 billion within 24 months
• The proceeds are intended to be used to support Yinson Production’s further growth and USD 200 million to Yinson Holdings Berhad to grow the Group’s energy transition businesses and return of capital to shareholders
• The transaction is expected to close in the first quarter of 2025, subject to customary closing conditions

Yinson’s offshore production business, Yinson Production, has entered into a definitive agreement with a consortium of investors comprising Platinum Lily B 2024 RSC Limited (“Platinum”) a wholly owned subsidiary of the Abu Dhabi Investment Authority (“ADIA”)”, and funds managed by British Columbia Investment Management Corporation (“BCI”), and RRJ Group (“RRJ”; together with ADIA and BCI, the “Investors”) to issue USD 1 billion in redeemable convertible preferred shares (the “RCPS”) and 10% warrants at a post-money valuation of USD 3.7 billion. The agreement provides the option to issue additional RCPS of up to USD 500 million within 24 months from closing, subject to agreement.

The proceeds from the transaction will primarily support Yinson Production’s further growth, whilst USD 200 million will be used to further expand the Group’s renewable energy and green technologies businesses, as well as for distributions to shareholders of Yinson Holdings Berhad through share buy-backs and/or dividends.

Lim Chern Yuan, Yinson Group Chief Executive Officer, commented, “We are very pleased to welcome ADIA, BCI and RRJ as new investors in Yinson Production. This landmark transaction comes at a pivotal juncture for Yinson, allowing Yinson Production to capture the great opportunities in the current robust FPSO market, and for Yinson Holdings Berhad to return capital to our shareholders and fund our energy transition businesses, Yinson Renewables and Yinson GreenTech. We firmly believe in the continued growth of energy demand and also the need for an inclusive energy transition.”

Flemming Grønnegaard, Chief Executive Officer of Yinson Production commented, “This is one of the largest structured equity transactions in Southeast Asia and the first platform-level equity raise by Yinson Production. It builds upon Yinson Production’s proven track record of delivering value accretive growth through our integrated platform. The growth capital will further strengthen our leading market position and enables us to seize opportunities in a robust FPSO market environment.”