Friday 29 Mar 2024
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(Jan 15): State investor 1Malaysia Development Bhd (1MDB) has invited investment banks to pitch for advisory roles in an initial public offering (IPO) ranging between $1 billion to $2 billion involving its power assets, three sources told Reuters on Wednesday.

Banks received the request for proposals this week, one of the sources told Reuters.

The IPO would include power plants that 1MDB acquired from gaming-to-plantations conglomerate Genting Bhd, Malaysia's second-richest man, Ananda Krishnan, and the royal family in central Negri Sembilan state.


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