Malaysia’s 1MDB Said to Plan $2 Billion IPO of Power Assets

1Malaysia Development Bhd., the state investment company known as 1MDB, plans to raise as much as $2 billion in an initial public offering of its power assets, said a person with knowledge of the matter.

The IPO may take place in the first quarter of next year, said the person, who asked not to be identified as the process is private. 1MDB has recently spent about 10.8 billion ringgit ($3.5 billion) purchasing electricity generation plants.