JAKARTA, Sept 12 — Malaysian home-improvement retailer Mr DIY Group (M) Bhd. is reportedly considering listing its Indonesian unit in Jakarta by the end of this year or early 2025.

The company is working with banks on an initial public offering (IPO) that could raise up to US$300 million (RM1.3 billion), financial news Bloomberg reported citing sources familiar with the plan.

Discussions are ongoing, and details such as the size of the IPO are still being finalised.

Yesterday, it was reported that Mr DIY Holding (Thailand) applied to Thailand’s Securities and Exchange Commission (SEC) for an IPO en route to its listing on the Stock Exchange of Thailand.

In a statement, Mr DIY Thailand said Bualuang Securities Plc and CIMB Thai Bank Plc have been appointed as financial advisors to proceed with the listing exercise.

Apart from Malaysia, Indonesia and Thailand, Mr DIY is also present in Brunei, Singapore, the Philippines, Cambodia, Vietnam, India, Turkiye, Bangladesh and Spain.