Malaysia’s biggest D.I.Y. retailer postpones I.P.O.
Mr DIY (1,000 stores in Asia, including 570 in Malaysia and Brunei) is expected to postpone a stock market listing due to current market uncertainties. This was initially planned for the end of March 2020 with a view to raising US$500 million. The delay comes alongside the Malaysian President Mahathir Mohamad’s unexpected resignation last month, within an already troubled economic climate due to the virus. Selling in Malaysia, Thailand, Singapore, Indonesia and the Philippines, Mr. DIY’s stores (covering 600 to 2,000 sq.m) are all fully owned and offer a range of around 15,000 products that extend far beyond D.I.Y. requirements.