July 4, 2014 / 7:32 AM / 4 years ago

CORRECTED-Malaysia's 1MDB seeks more than $3bln in energy assets IPO in Q4

(Corrects first paragraph to say one of the biggest IPOs and not the second biggest)

HONG KONG/KUALA LUMPUR, July 3 (Reuters) - Malaysian state-investor 1Malaysia Development Bhd said on Thursday it plans a stock market listing of its energy assets, seeking to raise more than $3 billion in what is set to be one of the nation’s biggest initial public offerings.

1MDB has appointed Deutsche Bank and Maybank as joint global coordinators for the IPO, which is slated to take place in the fourth quarter of 2014, the company said in a statement.

The IPO proceeds will be used to fund growth plans and the partial repayment of outstanding debt, it said.

Goldman Sachs was named advisor for the IPO, while Maybank and Ambank have been appointed as joint principal advisors, the statement added. (Reporting by Denny Thomas and Yantoultra Ngui; Editing by David Holmes)

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