1 Doc International Berhad withdrew its proposed initial public offering (IPO) on the Main Market of Bursa Malaysia after failing to secure its targeted valuation.
The beauty care operator filed its initial draft prospectus in January to fund an aggressive expansion across Malaysia and Singapore.
Mainstream corporate narratives attribute the listing cancellation to a standard valuation disagreement regarding the price-earnings ratio.
However, deeper marketing data show that institutional fund managers expressed weak demand during the roadshow.
