| Malaysian state investor 1Malaysia Development Bhd (1MDB) has delayed a more than US$3 billion IPO due to a longer-than-expected due-diligence process and negotiations around the restructuring of a RM5.5 billion (US$1.7 billion) loan, people familiar with the matter said.
The IPO, which was due to be launched in the fourth quarter of this year, is now likely to take place in the first few months of 2015 at the earliest, said the people, who declined to be named as the matter remained confidential. 1MDB, seen as a cross between a sovereign wealth fund and a private investment vehicle, is struggling with a debt burden exceeding US$11 billion. It plans to reduce some of this debt by selling its power assets via the IPO...............................................Full Article: Source
|