Petronas hires bankers for $2 bln IPO of unit-sources
Tue, Jun 08, 2010

SINGAPORE/KUALA LUMPUR - Malaysia state energy company Petronas (PETR.UL) has hired Deutsche Bank DBKGn.DE , CIMB CIMB.KL and Morgan Stanley MS.N as book-runners to advise on a planned $2 billion (S$8.5bil) listing of its petrochemical business, sources with knowledge of the deal said.

The listing will likely take place in the fourth quarter of this year depending on market conditions, one of the sources told Reuters on Tuesday.

More banks may be added to the IPO effort later, the sources said.

Azman Ibrahim, a Petronas spokesman, declined to comment and officials at the three banks were not immediately available for comment.







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