Malaysian oil and gas firm Sapura Energy has sought to raise 4 billion ringgit ($969 million) through a proposed rights issue.
The company will raise $730.4 million through a rights issue of ordinary shares with free warrants the remainder through a rights issue of Islamic redeemable convertible preference shares.
Sapura Energy plans to use the proceeds to strengthen its core businesses and boost its financial position.
Sapura Energy has secured letters of support from its major shareholders and government-linked asset manager Permodalan Nasional Bhd to participate in the fundraising.