KUALA LUMPUR, May 4 — Edra Power Holdings Bhd denied today a news report that it was seeking to hire a bank to manage its initial public offering.

The energy unit of state investment fund, 1 Malaysia Development Bhd, said in a statement that it did not issue any request for proposal (RPF) as reported by Reuters yesterday.

"The said article had stated that Edra Energy has issued a request for proposal (RFP) to hire banks for its IPO and that banks have to respond to the RFP by May 9, 2017.

"Edra Power Holdings Sdn Bhd ("Edra”) wishes to inform and clarify that it did not issue any such RFP,” the statement read.

Reuters reported yesterday that Edra Energy IPO-EDRA.KL has relaunched a request for proposal to hire banks for its IPO that is targeting to raise US$500 million to US$1 billion (RM2.1 billion to RM4.3 billion).

IFR Asia was the first to report the deal, citing two sources with knowledge on the matter.

The report quoted sources saying Banks have to respond to the RFP by May 9, one of the sources told IFR, a Thomson Reuters publication.