(Bloomberg) -- Innovation Network Corp. of Japan is reviving the sale of its 21% stake in Malaysian telecommunications tower company Edotco Group Sdn., people with knowledge of the matter said.

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The Tokyo-based investment firm is expected to start the process to sell its stake this quarter, the people said, asking not to be identified discussing private information.

INCJ has contacted prospective investors including private equity firms and family offices to gauge interest, the people said. Meanwhile, Edotco is revisiting plans for an initial public offering in Kuala Lumpur as soon as 2026, the people said. It had been considering an IPO in 2018, Bloomberg News reported at the time.

Discussions are ongoing and plans may change, the people said.

Representatives for INCJ and Edotco declined to comment.

Founded in 2012, Edotco manages over 58,000 telecom towers in Asia including in Malaysia, Indonesia, Pakistan and the Philippines, its website shows.

Axiata Group Bhd. owns 62.4% of Edotco. Axiata and INCJ, as well as Malaysian sovereign wealth fund Khazanah Nasional Bhd. and pension fund Kumpulan Wang Persaraan Diperbadankan, explored selling a majority stake in Edotco last year, but that fell through due to disagreements on valuation, one of the people said.

INCJ needs to unload its holding by the end of March when its mandate to operate ends. It invested $400 million in Edotco about seven years ago.

--With assistance from Mayumi Negishi.

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