Cuckoo International (MAL) Berhad IPO's Analysis

Cuckoo International (MAL) Berhad

CUCKOO International (MAL) Berhad, incorporated in 2014 and headquartered in Kuala Lumpur, Malaysia, is a leading provider of home appliances, beauty care products, and home care services across Malaysia, Singapore, and Brunei. The company specializes in the trading and rental of water purifiers, air purifiers, kitchen appliances, mattresses, and furniture, offering innovative and high-quality solutions for healthier living environments. Additionally, CUCKOO operates within the beauty and wellness sector through its WonderLab and WonderDewi brands, while its WonderKlean segment provides specialized home care and cleaning services. With a strong commitment to customer satisfaction, technological advancement, and sustainability, CUCKOO International continues to strengthen its market position as a trusted household brand across the region

IPO Details
Market: MAIN
Principal Adviser: RHB Investment Bank Berhad
Issuing House: Malaysian Issuing House (MIH)
Shariah Status: SC (Yes)
Listing Price: 1.08
PE Ratio: 11.2-17.8
    PE (FYE): 17.82
    PE (FPE Annualised): 11.19
    PE (Hybrid): 11.77
MITI allocation?: Yes
Closing Date: 05-Jun-2025
Balloting Date: 13-Jun-2025
Listing Date: 24-Jun-2025
Oversubscription rate: 1.42x
Average Analysts FV :
Mplus (1.53), TA (1.31), Mercury (1.33)
iSaham IPO Score :
Market Cap: 1,547.42 M
Number of Shares: 1,432.80 M
IPO Allocations No. of Shares %
Malaysian Public 28.66 M 2.0%
Bumiputera shareholders approved by MITI 179.10 M 12.5%
Eligible Directors and employees 14.328 M 1.0%
Private placement to selected investors and others 143.28 M 10.0%
Total Allocations 365.36 M 25.5%

Offer for Sales of 222.08 M existing shares representing 15.5% enlarged shares.

Public Issue of 143.28 M new shares representing 10.0% enlarged shares.

Median Sectors PE: N/A
Median Peers PE:
Utilisation of Proceeds
Purpose Amount (RM'000) %
Expansion Product purchase for expansion of rental business 104,700 56.7
Expansion Opening of ‘Brandshops’ 5,000 2.7
Expansion Expansion of Singapore business 10,000 5.4
Others Upgrading of IT systems 5,600 3
Listing expenses Estimated listing expenses 19,500 10.6
Debt Repayment of bank borrowings 40,000 21.6
Total 184,800 100
Analyst Highlights
Date Analyst Highlights
31-Mar-2025
Mplus
  • Projects a 3-year earnings CAGR of 17.3%, with core PAT reaching RM129.2m-RM163.1m, driven by product expansion and Singapore expansion.
Utilisation of Proceeds
Business Segments
Geographical Segments
Profit After Tax (PAT) by Financial Year Ended
SWOT Analysis
No Available Pro Insight yet
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