‘Edra launches request for proposal’
KUALA LUMPUR: Edra Energy had relaunched a request for proposal (RFP) to hire banks for its initial public offering (IPO) that was targeting to raise US$500 million to US$1 billion (RM2.16 billion to RM4.31 billion), said IFR Asia, citing two sources with knowledge of the deal.
Banks had to respond to the RFP by next Tuesday, one of the sources told IFR, a Thomson Reuters publication.
Edra Energy withdrew its RFP in February, within the same day of launching it, without giving any reason.
The company is Malaysia’s second largest independent power producer. It was formerly owned by 1Malaysia Development Bhd (1MDB) and was seeking a US$1 billion to US$3 billion IPO. The IPO plans did not materialise.
In 2015, 1MDB sold Edra Energy to China General Nuclear Power for US$2.3 billion. Reuters