| Malaysian state investor 1Malaysia Development Bhd (1MDB) is seeking to raise more than US$3 billion (S$3.7 billion) through a stock market listing of its energy assets, in what is set to be the nation’s second-biggest initial public offering (IPO).
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 Razak chairs its advisory board. 1MDB, which owns 16 power and desalination plants in six countries, has appointed Deutsche Bank and Maybank as joint global coordinators for the IPO, which is slated to take place in the fourth quarter of 2014, the company said...............................................Full Article: Source
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