Mr D.I.Y. Group (M) Berhad (5296.KL)

Malaysia's OMS puts $300 million IPO on hold -sources

Malaysian telecommunications infrastructure group OMS has put its plan to list on hold due to unfavourable market conditions, two sources with knowledge of the matter said. The initial public offering (IPO), which could raise $300 million, would have been the biggest in Malaysia since 2020 when home improvement retailer Mr DIY Group went public, raising 1.5 billion ringgit ($317 million). OMS would revisit the plan if and when the broader IPO market improves, said the sources, who declined to be named as the matter was private.