KUALA LUMPUR: CUCKOO International (MAL) Bhd
(Cuckoo Malaysia) says it is rescheduling the timing of its initial public offering (IPO) on the Main Market of Bursa Malaysia in response to current global market volatility.
The group’s listing, initially planned for April 30, is now anticipated to be carried out on June 24, in what it said is a “careful and thoughtful assessment” by its management in targeting a successful and sustainable entry into the public market.
Cuckoo Malaysia’s non-independent executive director and chief executive, Hoe Kian Choon, said challenges in the market has led to this “prudent decision” by the group, although he remains confident in Cuckoo Malaysia’s long-term prospects and is committed to maintaining the group’s momentum across all business segments.
