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Mubadala’s stake is worth about $920 million based on Thursday’s closing price.
The KL-based company may invite banks to formally pitch for a role on the deal this quarter.
Samling is working with advisers to explore a possible dual listing of the business in Kuala Lumpur and Singapore later this year.
It will join Hermina Hospital Group and snack maker GarudaFood Group in seeking to sell stock.
The stake could draw interest from strategic buyers including Mitsui.
The company joins snack producer GarudaFood and toilet brand Toto’s local distributor in planning to raise funds in the equity market.
The fund plans to target investments in consumer, tech, logistics and financial services industries.
Employees Provident Fund and KWAP have requested central bank approval to start deal negotiations with potential targets.
The acquisition will make Edotco the biggest independent telecoms tower operator in the South Asian nation.
A merger would have offered ANZ an opportunity to sell its 24% stake in AMMB.