By Yantoultra Ngui and Niluksi Koswanage
KUALA LUMPUR, Sept 13 (Reuters) - State investor 1MalaysiaDevelopment Bhd (1MDB) has boosted the target size of its IPOfor its energy assets to around $3 billion, a person with directknowledge of the plan told Reuters, as the group looks to repaydebt incurred after a shopping spree for power plants.
An IPO of more than $3 billion would make the 1MDB deal oneof the largest public stock offerings ever in Southeast Asia.
1MDB, which is chaired by Prime Minister Najib Razak, hasbeen expected to launch a public stock offering for at least ayear, with early predictions of its size ranging from $1 billionto $2 billion.
After a delay, the process is now kicking into gear, with1MDB expected to invite banks next month to formally pitch theirservices for the IPO, according to people familiar with thematter.
The timing of the pitching process means the 1MDB deal islikely to land sometime in the first half of 2014, they said.Goldman Sachs, Maybank and RHB areexpected to have a role in the deal due to their exposure to the1MDB's debt, one person said.
1MDB, fully owned by the government, did not respond torequests for comment.