Malaysia's Edra Energy reignites IPO plan, looking to hire banks -IFR

KUALA LUMPUR, May 3 (Reuters) - Edra Energy

has relaunched a request for proposal to hire banks for its IPO

that is targeting to raise $500 million to $1 billion, IFR Asia

reported citing two sources with knowledge of the deal.

Banks have to respond to the request for proposal (RFP) by

May 9, one of the sources told IFR, a Thomson Reuters

publication.

Edra Energy withdrew its RFP in February this year, 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 state fund 1MDB and was

seeking a $1 billion-$3 billion IPO. The IPO plans faltered as

1MDB became embroiled in money laundering investigations.

In 2015, 1MDB sold Edra Energy to China General Nuclear

Power for $2.3 billion.

Edra Energy could not be immediately reached for comment.

(Reporting by S Anuradha of IFR, writing by Liz Lee; Editing by

Gopakumar Warrier)