January 15, 2014 / 9:27 AM / in 4 years

UPDATE 1-Potential Malaysia IPOs for 2014

(Updates with new source information on 1MDB IPO size)

KUALA LUMPUR, Jan 15 (Reuters) - IOI Properties Group kicked off an potential record year for Malaysia IPOs with a stellar debut, jumping by more than a fifth after raising some $580 million in its initial public offering.

Malaysia’s initial public offering market could more than double this year to $7.1 billion, led by an up to $2 billion sale of state investor 1Malaysia Development Bhd’s energy assets, according to information from bankers compiled by Reuters.

Following is a list of other Malaysian IPOs that bankers have flagged as likely to occur in 2014 with their estimates of deal sizes. The total figure does not include two possible deals where the size has not been flagged - a property trust listing from Permodalan Nasional and an IPO for Boustead Plantations.

* Seven Convenience, operator of all 7-11 stores in Malaysia. The company is controlled by Malaysian tycoon Vincent Tan, the 10th richest man in the country, according to Forbes. A $250 million IPO expected in March.

* Power producer Malakoff, a unit of tycoon Syed Mokhtar AlBukhary’s conglomerate MMC Corp. Syed Mokhtar is the country’s eight richest man, according to Forbes. A $1 billion IPO seen in the first half of 2014.

* State investor 1Malaysia Development Bhd (1MDB) has invited investment banks to pitch for advisory roles in an initial public offering (IPO) ranging between $1 billion to $2 billion involving its power assets, three sources told Reuters on Wednesday.

* Boustead Plantations, the palm oil arm of Malaysia’s conglomerate Boustead Holdings, which is controlled by the country’s army fund, Lembaga Tabung Angkatan Tentera. The IPO is expected in the second quarter of 2014 but its size has not been determined yet.

* Icon Offshore, an oil and gas offshore service firm owned by the Malaysian government-linked private equity fund, Ekuiti Nasional. A $150 million IPO expected in the first half of the year.

* Iskandar Waterfront, property developer off the coast of southern state of Johor near Singapore, partly owned by the Johor state government. A $300 million IPO likely in the second half of 2014.

* Medini Iskandar, master property developer of 2200 acres of land in the heart of Iskandar economic region in the southern state of Johor, majority owned by state investor Khazanah Nasional Bhd. An $800 million IPO expected in the first half of 2014.

* Themed Attractions and Resorts Bhd, a theme parks operator owned by Malaysia’s state investor Khazanah Nasional. A $150 million IPO expected this year.

* Malaysian property developer Naza TTDI is expected to raise some $250 million IPO in the first half of 2014.

* Malaysia’s largest mobile operator by market value Axiata plans to list its tower assets, with the IPO estimated at $500 million.

* Internet-payment company MOL Global, the owner of social networking site Friendster Inc. Controlled by Malaysian tycoon Vincent Tan. The IPO is estimated at $300 million.

* Southeast Asia’s largest offshore helicopter operator Weststar, partly owned by U.S. private equity company KKR & Co . A $625 million IPO expected in either 2014 or 2015.

* Malaysia’s largest fund management firm Permodalan Nasional Bhd’s planned property trust listing. The deal is expected in 2014 or 2015. The size has not been determined yet but the property under PNB has a value of $4.7 billion.

* Ranhill Energy & Resources, the oil and gas service firm that had its listing in 2013 cancelled due to a disclosure breach related to the suspension of Petronas license of one of its units. It is exploring a comeback in 2014, with the IPO estimated at $230 million.

Seven Convenience, Malakoff, Icon Offshore, MOL, Weststar, Boustead and Axiata have said they intend to list. 1MDB declined to comment. Ranhill, Permodalan Nasional, Themed Attractions and Resorts, Medini , Naza TTDI and Iskandar Waterfront were not immediately available for comment. (Reporting by Yantoultra Ngui; Editing by Edwina Gibbs)

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