Asean IPOs show tentative revival as issuers brave markets

MR D.I.Y., Malaysia’s largest home improvement retailer, plans to open 100 new stores this year. Chief executive officer Adrian Ong said the expansion is in line with the company’s massive recruitment drive to employ 1,000 people.

SINGAPORE/KUALA LUMPUR/HONG KONG: A handful of companies from the technology and consumer durables sectors are aiming to launch IPOs in Southeast Asia later this year, pointing to an upturn after pandemic-hit markets and weak economic growth slashed fundraising.

In Malaysia, home improvement retailer Mr DIY has re-started the process for its up to $500 million initial public offering (IPO), boosted by a business recovery, sources familiar with the deal said.