Cuckoo International cuts IPO price by 16.3%
SINGAPORE: Household goods maker Cuckoo International has reduced its Malaysian initial public offering price by 16.3% to RM1.08 a share from RM1.29, a stock exchange filing showed on Wednesday.
That would reduce the size of its IPO to about RM394mil from around RM471mil.
Cuckoo International in April postponed the listing by two months citing global market volatility. The IPO, initially planned for April 30, is scheduled for completion by June 24.
Cuckoo International is 62.5% owned by South Korea-listed Cuckoo Homesys, its IPO prospectus showed. - Reuters
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