Cuckoo Malaysia sets deadline for IPO application withdrawals following rescheduling
KUALA LUMPUR: Cuckoo International (Mal) Bhd has set May 22 at 5 pm as the closing date for investors to withdraw their applications for its initial public offering (IPO), following a rescheduling of the listing exercise.
In a statement today, the healthy home creator said the withdrawal process applies to investors who submitted applications before the announcement of the IPO rescheduling and now wish to withdraw.
It said the process must be completed through Malaysian Issuing House (MIH), bank branches, or online platforms where the original applications were made.
"Refunds will be processed either on the same day or within eight market days upon receipt of a valid withdrawal request form, depending on the submission method,' it added.
Cuckoo said the forms can be submitted via MIH's website at www.mih.com.my, email (BRMY-MIHIPO@boardroomlimited.com), post, or by hand at the designated drop boxes at Menara Symphony.
"Investors who choose to withdraw may still reapply within the IPO subscription period, which remains open and will close on June 5, 2025.
"The company's listing on the Main Market of Bursa Malaysia (is now) planned on June 24, 2025,' it said.
Cuckoo Malaysia also announced the issuance of a supplementary prospectus detailing the IPO amendments and withdrawal procedures.
It said rescheduling the IPO was a strategic decision to ensure a successful and sustainable market debut.
Its non-independent executive director and chief executive officer Hoe Kian Choon expressed confidence in the company's growth trajectory following a 47.7 per cent rise in profit after tax and minority interest to RM128.9 million for the financial year ending 2024 from RM87.3 million in 2023.
"We are committed to maintaining this momentum across all our business segments by increasing product stock-keeping units and home care service offerings, while strengthening our distribution channel across Malaysia and Singapore,' he said.
To sum up, the listing of Cuckoo, which was originally planned for April 30, 2025, was delayed by two months due to the current global market volatility. - Bernama
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