KINIBIZ Retirement savings fund Employees Provident Fund (EPF) has not been approached on a possible involvement with 1Malaysia Development Berhad’s (1MDB) proposed listing of its power assets.

The proposed initial public offering (IPO) of 1MDB’s power unit needs regulatory approval before it can proceed in any case, said EPF chief executive officer Shahril Ridza Ridzuan.

“We tend to be offered involvement (as a cornerstone investor) in almost all IPOs on Bursa Malaysia,” said Shahril, adding however that EPF has not been approached in the case of 1MDB’s power unit.

The listing was originally scheduled to happen as early as April this year, reported Bloomberg .

However, it was likely pushed back into the second half of 2015 as the self-styled strategic development company is working on its debt repayment issues.

Citing sources, Bloomberg reported that the proposed IPO is worth about US$3 billion (or roughly RM10.7 billion), and that 1MDB is in talks to offer some shares to billionaire Ananda Krishnan.

For the full story go to KiniBiz .