Heavily indebted 1Malaysia Development Bhd (1MDB) is planning meetings in January with potential cornerstone investors for the US$ 3 billion IPO of its power business 1MDB Energy, said sources familiar with the matter: http://www.malaysiakini.com/news/282419
The initial public offering is aimed at helping the state investor, known as 1MDB, reduce a debt burden that exceeds US$ 11 billion. Plans for the sale had been delayed several times, bankers say, due to a longer-than-expected due diligence process and debt refinancing negotiations.
Raising US$ 3 billion could place the 1MDB Energy IPO as South-East Asia’s fifth-biggest listing ever, according to Thomson Reuters data.
1MDB plans January meetings with IPO cornerstones
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The IPO is aimed at helping the state investor reduce a debt burden that exceeds US$ 11bil.
