[Alpha Biz= Reporter Kim Jisun] Cuckoo Homesys' Malaysian subsidiary, Cuckoo International, is preparing for an initial public offering (IPO) on the Malaysian stock exchange.
According to the Financial Supervisory Service's electronic disclosure system on the 29th, Cuckoo International recently submitted an IPO prospectus to Malaysia's securities authorities. The IPO will offer approximately 365 million shares, consisting of around 222 million existing shares and 143 million new shares.
The IPO is being managed by RHB Investment Bank and AM Investment Bank, with specific pricing and timing yet to be determined. Citing sources, Bloomberg reported that the IPO could raise up to 750 million Malaysian Ringgit (around 237.9 billion KRW).
Cuckoo International was established in 2014 to distribute products like rice cookers and water purifiers in Malaysia. By 2021, it surpassed 1 million rental accounts and expanded its product line to include air conditioners and mattresses.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
