KUALA LUMPUR: Cuckoo International (MAL) Bhd’s initial public offering (IPO) has been oversubscribed by 1.42 times ahead of its listing on the Main Market of Bursa Malaysia Securities Bhd.
Cuckoo is expected to be listed on the Main Market of Bursa Malaysia on June 24, 2025.
The household goods manufacturer said a total of 7,908 applications for 69.33 million issue shares were received from the Malaysian public, resulting in an overall oversubscription rate of approximately 1.42 times.
Of the total, the Bumiputera portion was oversubscribed by 0.35 times, while the other Malaysian public portion saw a higher oversubscription rate of 2.49 times.
Cuckoo said the 143.28 million shares offered via private placement to local and foreign institutional investors were fully placed out.
In addition, it said 14.32 million shares allocated to eligible individuals, including Cuckoo group employees, were also fully subscribed.
Cuckoo also said the final IPO price for its listing on the Main Market has been set at RM1.08 per share, lower than the initial reference price of RM1.29 per share.
RHB Investment Bank Bhd is the sole principal adviser, joint global coordinator, joint bookrunner, managing underwriter and joint underwriter for this IPO. AmInvestment Bank Bhd is the joint global coordinator, joint bookrunner and joint underwriter for this IPO.
