Latest news with #ForeCoffee
Yahoo
21-03-2025
- Business
- Yahoo
Indonesian chain Fore Coffee launches IPO for global expansion
Indonesian coffee chain Fore Coffee has announced an initial public offering (IPO) on the Indonesia Stock Exchange (IDX) as part of its strategy to expand domestically and internationally. The IPO will offer up to 1.88 billion new shares, representing 21.08% of the company's post-offering capital, as reported by Inside Retail. With shares priced between $0.01 (Rp160) and $0.02, the coffee chain aims to raise $22.98m. Founded in 2018, Fore Coffee operates a hybrid model, combining quick-service outlets designed for pick-up and delivery with traditional sit-down cafes. The IPO is set to become effective on 25 March 2025, with public trading from 26 March to 9 April and electronic distribution of shares expected on 10 April. In 2024 the coffee chain opened 61 new stores, increasing its total to 230 locations in Indonesia. It plans another 60 stores in 2025 including a second location in Singapore by July. According to the company's IPO prospectus, 75% of the funds raised through the IPO will be allocated to expanding outlets in Indonesia. In 2026, the company plans to open 80 more locations: a mix of larger flagship stores and smaller, on-the-go formats. Fore Coffee plans 30 outlets in two new business segments by 2027, allocating 18% of the IPO proceeds to support these ventures. It also intends to diversify its operations by launching two new doughnut and bakery concepts. The remaining funds from the IPO will be used for working capital, including raw material purchases, packaging, rent and utility expenses. Fore Coffee, which has raised $53m in previous investment rounds, opened its first international outlet at Bugis Junction shopping centre in Singapore in November 2023. "Indonesian chain Fore Coffee launches IPO for global expansion" was originally created and published by Verdict Food Service, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
Yahoo
08-03-2025
- Business
- Yahoo
Indonesia's Fore Coffee plans IPO
Singapore-based venture capital company East Ventures is preparing for an initial public offering (IPO) for its coffee shop chain, Fore Coffee, as reported by Bloomberg. East Ventures is preparing an IPO that may propel the valuation of Fore to Rp1.8tn ($110m), tapping into Indonesia's fast-growing coffee market. The chain, which originated as an in-house venture at East Ventures, is aiming to raise a minimum of Rp300bn ($18.3m) aconsidering a listing on the Jakarta exchange as early as April 2025. Sources of information prefer anonymity due to the private nature of the discussions. While the IPO's specifics, including its size and precise timing, are still under review and subject to change, insiders have revealed that existing shareholders, including East Ventures, do not intend to sell their stakes during the listing. The funds raised are earmarked for further expansion of the coffee chain. A representative from East Ventures declined to comment on the plans. Fore, established in 2018, has rapidly expanded to more than 200 locations across 44 cities in Indonesia. The chain is leveraging the country's growing middle class, which is increasingly spending on lifestyle products, including speciality coffee. Fore's strategy involves a mix of quick-service storefronts for efficient pick-up and delivery, complemented by traditional sit-down cafés. The company's application, which facilitates pre-ordering, has played a key role in reducing service times and operational costs. Fore is competing in a burgeoning market with a mix of local and international players such as Kopi Kenangan, Luckin Coffee, and Arabica. With a population of 280 million, Indonesia's annual coffee consumption is expected to climb 11% by 2030, making it one of the fastest-growing markets worldwide according to Redseer Strategy Consultants. "Indonesia's Fore Coffee plans IPO" was originally created and published by Verdict Food Service, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
