Cuckoo International (MAL) Bhd made its debut on the Main Market of Bursa Malaysia today, opening at RM1.09 before easing to RM1.08 as at 9.10 am, with over 22.7 million shares traded in early session.
The consumer products and services company, listed under stock code 5336, recorded an intraday high of RM1.11 and low of RM1.08, reflecting cautious yet active investor interest following its oversubscribed IPO.
Cuckoo’s public offering saw strong retail and institutional demand prior to listing, with the public portion oversubscribed by 1.42 times. The “Other Malaysian Public” category attracted the most interest with a 2.49 times oversubscription rate, while the Bumiputera portion was moderately taken up at 0.35 times.
All institutional and eligible person allocations were fully placed out, signalling investor confidence in the company’s long-term growth prospects.
RHB Investment Bank Bhd led the IPO as the sole principal advisor and joint global coordinator, alongside AmInvestment Bank Bhd.
