1MDB intends to meet Lembaga Tabung Haji
KUALA LUMPUR: Heavily indebted 1Malaysia Development Bhd (1MDB) is planning meetings in January with potential cornerstone investors for the US$3bil(RM10.33bil) initial public offering of its power business 1MDB Energy, said sources familiar with the matter.
The IPO is aimed at helping the state investor reduce a debt burden that exceeds US$11bil. Plans for the sale had been delayed several times, bankers said, due to a longer-than-expected due diligence process and debt refinancing negotiations.
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