Corporate  |  JANUARY 29, 2016 10:18AM

Ranhill extends public offering period

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ranhill_logoRanhill Holdings Bhd will extend its public offering period to Feb 25 for the retail offering and Feb 29 for the institutional offering.

In a statement, Ranhill said a total of 172.56 million offering shares were taken up by three cornerstone investors, namely Permodalan Darul Ta’zim Sdn Bhd, Lembaga Tabung Haji and Corston-Smith Asset Management Sdn Bhd.

President and chief executive Hamdan Mohamad said the extension was primarily aimed at facilitating the internal processes of a number of institutional investors, who had requested for more time for deliberation.

“With our track record, we firmly believe that this offering provides investors with an attractive opportunity to participate in the environment and energy sectors.

“It is also our intention to recommend a minimum dividend payout of 70% of our company’s profits attributable to equity holders for the 2016 financial year,” he added.

The revised date for the listing is slated for March 2016.

Ranhill, via its subsidiary SAJ Holdings Sdn Bhd, is the exclusive water operator for Johor, providing water supply services to the second most populous state in Malaysia.

In addition, Ranhill has water and wastewater concessions in China and Thailand.

Ranhill is also one of the largest independent power producers in Sabah, and is involved in the provision of operations and maintenance services for power plants, as well as provision of support services.

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