* Share sale could raise up to $303 mln - sources
* Matrix seen targeting oil, gas acquisitions - sources
* Value of Malaysian IPOs to double this year to $7.1 bln
(Adds details on Matrix Capacity, IPO background)
By Yantoultra Ngui
KUALA LUMPUR, Feb 25 Malaysia's Matrix Capacity
Petroleum Bhd, a shell company set up to buy energy assets,
plans to list shares on the Kuala Lumpur stock exchange in a
deal that two financial sources said could raise up to 1 billion
ringgit ($303 million) in the second half of 2014.
The share sale could mark the country's biggest-ever listing
by a vehicle with no assets, set up to buy corporations that
will be later folded into the business. The Matrix Capacity deal
would dwarf those by similar firms like Sona Petroleum Bhd
and Cliq Energy Bhd that raised between $100
million and $150 million each last year.
The planned listing comes as bankers look forward to a surge
in initial public offerings in Malaysia after political
uncertainties slowed the pace of deals in 2013. The nation's IPO
market could more than double this year to $7.1 billion,
according to data compiled by Reuters last month, led by a sale
of state investor 1Malaysia Development Bhd's energy assets for
up to $2 billion.
Matrix Capacity could buy firms involved in the oil and gas
production and development sector in the Asia region, according
to the two people familiar with the matter. The company will be
led by a team including Syed Anwar Jamalullail, chairman of
construction conglomerate Cahya Mata Sarawak Bhd and
oil and gas expert Peter Wentworth, formerly with BP PLC.
"Demand is expected to be good as there are already a lot of
investors asking about the listing," one of the sources told
Reuters late on Monday. "They have just submitted the request
for approval at end of last month."
RHB Investment Bank was appointed as advisor on the deal,
said the sources, who declined to be named as the matter was
Officials in Matrix Capacity and RHB could not immediately
be reached for comment on the listing plans.
($1 = 3.2950 Malaysian ringgit)
(Reporting By Yantoultra Ngui; Editing by Niluksi Koswanage and