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Standard Chartered PE-backed Malakoff eyeing 2013 IPO

12 Dec 2012

Standard Chartered Private Equity-backed Malaysian power generator Malakoff is planning an IPO in the second quarter of 2013.

SCPE currently owns a 6.5 per cent stake in Malakoff through its Standard Chartered IL & FS Asia Infrastructure Growth Fund.

Anglo-Oriental, Employees Provident Fund Board Retirement Fund and SEASAF Power also plan to sell stakes in the company through the public listing.

SCPE first invested in Malakoff in 2008, two years after it was taken private by MMC in a MYR9.3bn ($3bn) deal.

Malakoff is the largest independent power producer in Malaysia based on its effective generation capacity of about 5,000MW, as well as the largest effective generation capacity installed in Southeast Asia.

The company is also involved in power generation and water production in the Middle East and North Africa.

In August it emerged the Armstrong South East Asia Clean Energy Fund was preparing to make its first deals is the solar and mini-hydro sector across Thailand, Indonesia, Malaysia and other emerging markets.

The firm announced its first close on $65m in May, led by European development finance groups GEEREF and DEG in addition to an unnamed Asian-based corporation.

At the time, it said it was looking to reach its target fund size of $150m by early 2013.

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