KUALA LUMPUR: Malaysian sovereign fund 1Malaysia Development Bhd (1MDB) is preparing to list its power assets in January, seeking to raise more than US$3bil (RM9.78bil) after finalising a second debt refinancing agreement this month, sources with direct knowledge of the matter said.
Plans for the initial public offering (IPO), which is aimed at helping 1MDB cut down a debt burden exceeding US$11bil (RM35.85bil), had been delayed due to a longer-than-expected due diligence process and negotiations surrounding its first debt refinancing agreement.
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