Edra Power Holdings Sdn Bhd is expected to be listed on the Main Board of Bursa Malaysia Bhd in November this year.

Capital market industry sources said Edra, which is Malaysia’s second-largest independent power producer (IPP) and a leading nuclear energy company globally, was expected to raise in excess of RM5 billion from its listing exercise.

Analysts said market consensus was that the run-up on Bursa Malaysia boded well for Edra’s listing price, which although has not been fixed, would make the initial public offering (IPO) pipeline come alive again.

This is in view that Edra would be a “blockbuster” IPO with cornerstone fund managers such as the Employees Provident Fund, Retirement Fund Inc, Lembaga Tabung Haji and Khazanah Nasional Bhd being “hungry” given the pent-up demand for new listings.

“It will be a much sought-after flagship listing which would also attract retail investors to be involved as shareholders in the company,” an analyst said.

He said China General Nuclear Power Corp, which wholly owns Edra, might release about 35%-40% of the company’s shares in the market as part of the listing exercise.

“They are looking at returning ownership of the company to Malaysians, which is a natural evolution in the capital market,” the analyst said.

“Malaysians will take the first bite in what is surely an internationally renowned company in clean energy,” he said.

Malaysians would have much to gain as Edra has linkages with local and international utility companies.

As a leading global nuclear energy company, it has investments of more than 25GW in clean and renewable energy projects. — Bernama