Malaysian home improvement brand Mr DIY may postpone its planned IPO following the effect of political uncertainty on the domestic market.
Malaysia’s equities market suffered heavily from the impact of Malaysian president Mahathir Mohamad’s unexpected resignation, as well as the continuing impact of the coronavirus outbreak. The Malaysian stock market’s 12-year bull run came to an end just last week as the media spread the news about the outgoing president. A global rout of stock prices relating to the coronavirus crisis has not helped the local situation either.
Mr DIY is expected to make a decision regarding the IPO this week. The IPO was originally targeted for the end of this month with a view to raising capital of around US$5 million, and may still go ahead if market conditions show any sign of improvement.
Mr DIY operates close to 600 outlets in the country.