Cuckoo Holdings Co., a South Korean company, is reportedly planning to have an initial public offering (IPO) for its Malaysian unit, Cuckoo International (Mal) Sdn., in Kuala Lumpur next year.

This move highlights Cuckoo's strategic expansion in the Southeast Asian market. The IPO has the potential to raise up to 750 million ringgit, which is approximately $172 million. Market sources suggest that the company may be valued at around 3 billion ringgit upon listing.

Although the size and timing of the IPO are subject to change, Cuckoo's IPO in Malaysia signifies its commitment to further growth in the region.