Coffeeshop operator Kimly launches IPO; to sell 173.8 million new shares at 25 cents each

SINGAPORE (March 8): Kimly Group, one of the largest traditional coffeeshop operators in Singapore, is tapping capital markets to raise funds to grow its business operations.

In conjunction with its Catalist listing, Kimly is selling 173.8 million new shares at 25 cents each. These consist of 3.8 million shares for public subscription and 170 million placement shares. Together they represent 15.1% of Kimly’s enlarged share capital of some 1.2 billion shares.

Kimly plans to use the IPO net proceeds of $40.4 million for acquisitions, joint ventures as well as general business expansion; renovation of its existing food outlets; expansion of its corporate HQ and central kitchen; and development of technological capabilities and productivity initiatives.

---

Related Stories

• Brokers’ Digest: CDL, PropNex, PLife REIT, KIT, SingPost, Grand Banks Yachts, Nio, Frencken, ST Engineering, UOB
• Prospects of better FY2025 earnings inspire new ideas for ThaiBev
• Morningstar believes Seatrium will turn profitable in 2024; other analysts keep ‘add’ and ‘buy’ calls

---