Cuckoo International, the Malaysian branch of South Korea's Cuckoo Holdings, is planning to raise RM750 million (about $172 million USD) through an Initial Public Offering (IPO) on the Malaysian stock market next year.
This IPO is essentially a way for Cuckoo to attract new investors by selling a portion of its company shares to the public for the first time.
The company's value may reach up to RM3 billion.
Founded in 2014, Cuckoo International initially offered products such as rice cookers and water purifiers.
Over time, it has expanded its range to include various home appliances, including air purifiers and kitchen essentials.
This year, Cuckoo's shares in Seoul have grown about 47%, reflecting the brand's popularity and steady growth.
The details of the IPO, including the share price, have not been finalized yet.
RHB Investment and AmInvestment are ready to help Cuckoo coordinate this public listing, which could also spark interest in the local market where other companies are planning similar moves in the coming year.
Malaysia has already recorded a record high number of IPOs this year, indicating that the market for new investments is very active.
