KUALA LUMPUR: CUCKOO International (MAL) Bhd
(Cuckoo Malaysia) is rescheduling the timing of its initial public offering (IPO) on the Main Market of Bursa Malaysia Securities Bhd due to current global market volatility.
The listing, initially planned for April 30, 2025, is now expected to be completed by June 24, 2025.
The home appliance giant said the decision had been made after careful consideration by Cuckoo Malaysia’s management, with the aim of ensuring a successful and sustainable entry into the public market.
“As the market presents near-term challenges, we believe that this is a prudent decision. We remain confident in the company’s long-term prospects and is committed to maintaining the company’s momentum across all business segments,” non-independent executive director and chief executive officer Hoe Kian Choon said in a statement.
Cuckoo Malaysia will issue a supplementary prospectus and open a withdrawal period for investors who wish to retract their IPO applications, following the change in timeline.
The supplementary prospectus, including details of the withdrawal process, will be released in due course via the websites of Bursa Malaysia and Cuckoo Malaysia.
The IPO application remains open and will now close on June 5, 2025 with the listing on the Main Market of Bursa Malaysia planned on June 24, 2025.
