KUCHING: CUCKOO International (MAL) Berhad (“CUCKOO Malaysia”) has announced it will delay its Initial Public Offering (IPO) on Bursa Malaysia, which was originally set for Apr 30.
The new listing date is now expected to be June 24, following concerns over current global market volatility.
The decision to reschedule the IPO was made after a careful review by CUCKOO Malaysia’s management team, who are focused on ensuring the company’s 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 are committed to maintaining the company’s momentum across all business segments,” said Hoe Kian Choon, non-independent executive director and CEO of CUCKOO Malaysia.
As a result of the revised timeline, CUCKOO Malaysia will issue a supplementary prospectus and open a period for investors who wish to withdraw their IPO applications.
The company will provide more details about the withdrawal process, including the dates and methods, on both Bursa Malaysia’s website and CUCKOO Malaysia’s official website.
The IPO application period remains open and will now close on Jun 5.
Despite this delay, CUCKOO Malaysia remains focused on its mission to create healthier homes for all and is determined to continue growing and expanding its business in the long term.
CUCKOO Malaysia expressed its sincere appreciation to all stakeholders for their ongoing support and confidence as the company takes these steps towards a successful IPO that will help drive its long-term growth and business objectives.
For more information, CUCKOO Malaysia’s updated prospectus and withdrawal process details will be available on Bursa Malaysia’s website and CUCKOO Malaysia’s Investor Relations page.
