Hengyuan

HENGYUAN Refining Company Bhd (HRC) has proposed a renounceable rights issue of up to 300 million new shares, together with up to 150 million free detachable warrants, to raise a minimum of RM155 million.

The proposed corporate exercise will be offered on the basis of one rights share for every one existing share held, and one free warrant for every two rights shares subscribed, the group said in a filing with Bursa Malaysia today.

The issue price and entitlement date will be announced later.

As of June 30, 2025, HRC has an issued share capital of RM300 million comprising 300 million shares and no convertible securities or treasury shares.

The rights issue and warrant structure complies with Bursa Malaysia’s rule limiting warrant conversions to not more than 50% of a company’s issued shares.

Proceeds raised will go towards purposes to be disclosed in due course, pending further regulatory approvals. — TMR

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