Hartanah Kenyalang Bhd has completed a private placement that saw Solarvest Holdings Bhd and Norges Bank emerge as new shareholders, following the issuance of 62 million new shares that raised gross proceeds of RM17.05 million.
Solarvest subscribed for 45 million shares, giving it a 6.6% stake in the enlarged share base and positioning the renewable energy player as a strategic investor expected to explore collaboration opportunities in Sarawak’s clean energy sector. The remaining 17 million shares were taken up by Norges Bank, the central bank of Norway managing the Government Pension Fund Global.
Following the exercise, Hartanah’s issued share base increased to 682 million shares from 620 million previously. TA Securities Holdings Bhd acted as placement agent.
Hartanah Managing Director Seah Boon Tiat said the participation of both investors reflects confidence in the group’s medium- to long-term growth outlook, while supporting its capital needs as project execution scales up.
The group said the placement will strengthen its capital base and support working capital requirements amid expanding project activity.
