CGN said to weigh US$400 mil IPO of former 1MDB power assets

(Nov 1): China General Nuclear Power Corp., which bought embattled state fund 1Malaysia Development Bhd.’s power assets for US$2.3 billion ($3.2 billion) this year, is considering listing the business as early as 2017, people with knowledge of the matter said.

The state-owned company could raise as much as US$400 million from a Malaysian initial public offering of Edra Global Energy Bhd., said the people, who asked not be identified as the details are private.

Edra Global, based in Kuala Lumpur, is the second biggest independent power producer in Malaysia, trailing only Malakoff Corp. It has 13 electricity projects with a total installed capacity of 6,620 megawatts across Malaysia, Egypt, Bangladesh, the United Arab Emirates and Pakistan, according to CGN’s website. A representative for CGN didn’t immediately respond to an e-mail seeking comment.

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