KUALA LUMPUR, April 9 (Bernama) -- 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 the current global market volatility.
Cuckoo Malaysia’s non-independent executive director and chief executive officer Hoe Kian Choon said the decision to reschedule was made after a careful and thoughtful assessment in targeting a successful and sustainable entry into the public market by the company.
The listing of the company initially planned for April 30, 2025 is now anticipated to be completed by June 24, 2025.
“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,” Hoe said in a statement today.
Following the change in timeline, the company will issue a supplementary prospectus and open an investor subscription withdrawal period for investors who have submitted but wish to withdraw their applications for the IPO.
“The supplementary prospectus and specific details of the withdrawal process including period and methods will be released in due course via Bursa Malaysia’s website at https://www.bursamalaysia.com/ and Cuckoo Malaysia’s website at www.cuckoo.com.my/Investor-Relations,” said in statement.
The IPO application remains open and will now close on June 5, 2025, with the listing on the Main Market planned on June 24, 2025.
The company also said that despite the adjusted timeline, Cuckoo Malaysia reaffirms its unwavering dedication to its mission of creating healthier homes for all, fostering healthier lifestyles for its customers as a Healthy Home Creator.
“The company expresses its sincere appreciation to all stakeholders for their ongoing support and confidence as it takes considered steps towards a successful listing that will underpin its long-term growth and value proposition,” it added.
-- BERNAMA
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