Cleary Gottlieb Steen & Hamilton and Linklaters are advising on what is expected to be the world’s second-largest initial public offering (IPO) this year – the $3.1bn (£2bn) Malaysian listing of oil producer Felda.

The Kuala Lumpur IPO of the state-owned company is second in size only to Facebook’s $16bn (£10.2bn) listing on the Nasdaq in May.