KUALA LUMPUR: The Malaysian unit of South Korea’s Cuckoo Holdings Co may raise as much as RM750mil from a planned initial public offering (IPO) here next year, according to sources.
A Malaysia listing could value Cuckoo International (M) Sdn Bhd at as much as RM3bil, the sources said.
A representative from Cuckoo in Malaysia declined to comment.
The company filed an IPO prospectus last week, proposing to sell up to 222 million existing shares and about 143 million new ones at an as yet undecided price. Cuckoo International was founded in 2014 to distribute rice cookers and water purifiers in Malaysia, and its lineup has since expanded to include products such as air purifiers as well as kitchen and home appliances.
RHB Investment Bank Bhd and AmInvestment Bank Bhd are helping to coordinate Cuckoo’s Malaysia IPO, the prospectus showed. — Bloomberg
