On the 24th (local time), the Malaysian subsidiary of the comprehensive home appliances corporations Cuckoo, Cuckoo International Berhad, announced on the 25th that it has been listed on the main market of Bursa Malaysia Securities Berhad.
Cuckoo International Berhad offered a total of 293,724,000 shares, comprising 143,280,000 new shares and 150,444,000 existing shares, through this listing. The final offering price was 1.08 ringgit (RM), and the total offering size is approximately 317.22 million ringgit. The market capitalization is estimated at around 1.547 billion ringgit (approximately 500 billion won). The price-to-earnings ratio (PER) is 10.5 times.
Cuckoo International Berhad plans to use the funds secured through this listing to strengthen its brand position and influence in the Malaysian market. The company aims to expand its products and services, extend its omnichannel distribution network, and improve its logistics and warehouse management systems.
Previously, Cuckoo entered the Malaysian market in 2015 through a joint venture, showcasing various water purifiers, including electronic, mechanical, direct flow, and commercial types. Additionally, it provides a customer-selectable rental program titled "Good Plan," a filter replacement and after-service called "Natural Care Service," and a reservation system service through its application "Cuckoo+".
Cuckoo's overseas sales share is increasing, primarily driven by the Malaysian subsidiary. As of 2024, Cuckoo International Berhad is expected to account for 30% of Cuckoo's total sales of 2 trillion won.