Oriental Kopi targets raising US$42m in IPO
Its IPO is priced at US$0.10.
Oriental Kopi, a Malaysian coffee chain, sets out to raise about US$42m (RM184m) in its initial public offering (IPO), priced at US$0.10 (RM0.44), on the Bursa Malaysia ACE Market.
A total of US$8.3m (RM36.4m) will be allocated to establish an additional 13 new outlets across Malaysia.
Another US$12.3m (RM53.7m) will go toward setting up a 3-storey new operational facility in Selangor with an estimated total built-up area of approximately 108,448 sq. ft. for its new head office, central kitchen, and warehouse.
Additionally, it also intends to allocate US$457k (RM2m) to set up an additional four specialty retail stores in the region of Peninsular Malaysia and Johor, US$385k (RM3m) for the marketing expenses for its brands of packaged foods segment in Malaysia, and US$1.3m (RM5.5m) for the marketing expenses in foreign countries.
Oriental Kopi was established in 2021 and currently operates 20 cafes in Malaysia and one in Singapore. Amongst its signature offerings are Oriental Coffee, Signature Egg Tarts, Nasi Lemak, and Polo Bun.
(US$1 = RM4.38)
