KUALA LUMPUR: Cuckoo International (MAL) Bhd (Cuckoo Malaysia) aims to raise RM184.8 million through its initial public offering (IPO) on the Main Market of Bursa Malaysia.
The company, widely recognised for its broad range of home appliances, wellness products and lifestyle services, will be issuing 143.28 million new shares at an IPO price of RM1.29 each.
Its listing is scheduled for April 30, with an expected market capitalisation of RM1.85 billion.
The funds raised from the IPO will support Cuckoo Malaysia’s growth plans, with 56.7 per cent earmarked for expanding its rental business and 21.6 per cent allocated for the repayment of bank borrowings.
The remaining proceeds will be used to open new Cuckoo Brandshops, upgrade its IT systems, support the expansion of its Singapore-based associate, Cuckoo International (S) Pte Ltd, and cover listing-related expenses.
Chief executive officer Hoe Kian Choon said the IPO would enable the company to expand its product range, enhance its customer service capabilities, and increase cross-selling opportunities, further solidifying its position as a trusted household name.
He added that the company is focused on expanding its presence in Malaysia and Singapore over the next three years. In 2025, Cuckoo plans to open three cash and carry retail outlets in Malaysia, with another seven scheduled for 2026.
In Singapore, the expansion strategy includes launching five third-party retail outlets to strengthen its omni-channel distribution network.
Cuckoo Malaysia currently holds a strong position in the home appliance rental segment, ranking as the country’s second-largest player with a market share of 23.1 per cent as of December 2024.
Chief financial officer Bryan Yeong said the company is comfortable in its current position but has a clear strategy to grow organically in the market.
He also expressed confidence in the IPO and overall market outlook, citing both the industry’s potential and the capabilities of Cuckoo’s team and management as key drivers of success.
Yeong expects the company to benefit from a projected compound annual growth rate (CAGR) of 9.9 per cent in the home appliance rental market between 2024 and 2029.
RHB Investment Bank Bhd is the sole principal adviser, joint global coordinator, joint bookrunner, managing underwriter, and joint underwriter for the IPO.
AmInvestment Bank Bhd is also acting as a joint global coordinator, joint bookrunner, and joint underwriter.
Source from: https://www.nst.com.my/business/corporate/2025/03/1193391/cuckoo-malaysia-eyes-rm185mil-ipo-shares-priced-rm129
Image from: https://www.nst.com.my/