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Shares of Indonesian coffee chain Fore Coffee surged 34% on their debut at the Indonesia Stock Exchange, reaching 252 rupiah (US$0.015) from an IPO price of 188 rupiah (US$0.011). The oversubscribed offering, targeting US$24 million, reflects investor confidence amid recent market challenges. Backers, including East Ventures, have committed to a 12-month lockup period to support the company's governance and resilience in the sector.
Taiwan's Economics Minister Kuo Jyh-Huei defended TSMC against reports of a potential US$1 billion fine for export control violations, asserting the company's compliance with regulations. Meanwhile, Indian snack brand Let’s Try secured US$2.5 million in pre-series A funding to enhance distribution and product development. Fore Coffee is moving forward with its IPO plans, aiming to raise US$24 million to expand its outlet network across Indonesia, while Bizcap, an Australian lender, has launched in Singapore, providing loans to SMEs.
Fore Coffee's IPO was oversubscribed by over 200 times, attracting 114,873 retail investors, and is set to debut on the Indonesia Stock Exchange on April 14, aiming to raise approximately 353.44 billion rupiah (around US$21 million). The funds will be allocated to opening 140 new stores, expanding its donut business, and working capital. Established in 2018, Fore Coffee currently operates over 216 outlets across Indonesia and one in Singapore.
Willson Cuaca
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The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
fore coffee shares surge 34 percent on successful ipo debut
06:30 14.04.2025
fore coffee pursues 24 million dollar ipo amid market volatility
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fore coffee's ipo attracts overwhelming interest amid market uncertainty
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