SINGAPORE (July 16): Koufu Group, which is known for its food courts with self-ordering and payment kiosks, has grown significantly into a multi-format and multi-brand F&B group.
So far, its sprawling F&B operations have been supported by two of its central kitchens in Woodlands. With ambitions for further growth, the company intends to expand its food processing capacity by building an integrated facility. It is seeking to partly finance the construction with the proceeds from a listing on the Mainboard of the Singapore Exchange.
The company is offering 51.2 million new shares and 45.8 million vendor shares at 63 cents each. Post-listing, Koufu’s executive chairman and CEO Pang Lim and his wife, executive director Ng Hoon Tien, will still be the dominant shareholders with a 75.5% stake via an entity they own equally, Jun Yuan Holdings. At the IPO price of 63 cents, Koufu will have a market value of around $350 million. The offer price values the company at 13 times FY2017 earnings.