A Malaysian power plant under state-owned 1Malaysia Development Berhad (1MDB) is seeking a new promoter to undertake its initial public offering (IPO), The Edge Financial Daily reported on Friday, citing unnamed sources.

The daily said that a Middle Eastern consortium could be keen to take over the listing task of Edra Global Energy Berhad from 1MDB. The consortium is said to consist of sovereign investment funds and industry players.

Replacing the lead promoter could ease the execution of the power asset's IPO, the daily said.

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NOTE: Reuters has not verified these stories and does not vouch for their accuracy. (Compiled by Kuala Lumpur newsroom; Editing by Biju Dwarakanath)