Highlands Coffee targets $400m in Vietnam IPO—report
The Jollibee-backed chain has nearly 1,000 sites.
Jollibee Group-backed Vietnamese coffee chain Highlands Coffee is exploring an initial public offering (IPO) in Vietnam to raise $300 to $400m, a report by Bloomberg said.
Jollibee Group has a majority stake in Highlands Coffee owner SuperFoods Group.
The news follows the group’s announcement to expand its South Korean coffee chain, Compose Coffee in Southeast Asia after hitting 3,000 sites.
In a recent press release, Jollibee said its coffee segment delivered robust expansion, supported by new store openings across Compose Coffee and Highlands Coffee. Combined, the segment recorded strong percentage growth alongside a healthy pipeline of new store openings, reinforcing the group's confidence in the long-term potential of its Coffee and Tea portfolio.
