Mr DIY mulls US$362 million float
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Malaysian home improvement brand Mr DIY is considering an IPO to raise about MYR1.5 billion (US$362 million). An industry source has revealed that the firm intends to list its domestic operations later this year on either the Malaysian or Hong Kong exchange with backing from Malaysian private equity firm Creador, which invested in the brand over two years ago.
A report stated the IPO could bring Mr DIY to a market value of MYR10 billion (US$2.426 billion).
Mr DIY operates around 600 locations in Southeast Asia. Last October, the company revealed plans to open at least 1000 branches by 2020.
Head of marketing Andy Chin said then: “We feel that our home improvement retail business model, offering a variety of goods at affordable prices, is suitable for better business growth in the country as well as the Asean market. At the end of this year, we target 700 global branches, and the number may reach 1000 or more by 2020. These will be based on an organic growth.”
He added that the company’s prospect of Asean-level expansion will be focused on Indonesia, Thailand and the Philippines”.
Mr DIY is the largest home appliance retailer in Malaysia with more than 20,000 SKUs.
Questions & Answers
Q.Which exchanges is Mr DIY considering for its initial public offering?
Which exchanges is Mr DIY considering for its initial public offering?
Mr DIY is intending to list its domestic operations later this year on either the Malaysian exchange or the Hong Kong exchange. This would be done with the support of Malaysian private equity firm Creador.
Q.What is the projected market value of Mr DIY if the IPO goes ahead?
What is the projected market value of Mr DIY if the IPO goes ahead?
A report stated that the initial public offering could bring Mr DIY to a market value of MYR10 billion, which is equivalent to US$2.426 billion. The company aims to raise about US$362 million.
Q.Which countries are the focus for Mr DIY's expansion within the ASEAN region?
Which countries are the focus for Mr DIY's expansion within the ASEAN region?
Mr DIY's Head of Marketing, Andy Chin, stated that the company's prospect for ASEAN-level expansion will be focused on Indonesia, Thailand, and the Philippines. This forms part of their organic growth strategy.
Q.How many branches does Mr DIY aim to operate globally by the end of this year?
How many branches does Mr DIY aim to operate globally by the end of this year?
Andy Chin, Head of Marketing, stated that Mr DIY targets 700 global branches by the end of this year. The company previously revealed plans to open at least 1000 branches by 2020.
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