Mr DIY weighs IPO delay after political turmoil

SINGAPORE: Mr DIY Group, Malaysia’s biggest home improvement retailer, is considering postponing its planned initial public offering after the country’s equities market tumbled on political uncertainty, according to people familiar with the matter.

The company will finalize a decision on the share sale plan as soon as this week, said the people, who asked not to be identified as the discussions are private. The retailer initially planned to start the IPO at the end of this month, with a target to raise about $500 million, the people said.