1MDB seeks more than US$ 3bil from energy assets IPO
Malaysian state investor 1Malaysia Development Bhd (1MDB) is seeking to raise more than US$ 3 billion through a stock market listing of its energy assets, in what is set to be one of the nation’s largest initial public offerings.
Struggling under the burden of US$ 11 billion in borrowed money, 1MDB is regarded as a cross between a sovereign wealth fund and a private investment vehicle. Prime Minister Najib Abdul Razak chairs its advisory board.
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