Food-court operator Koufu to launch IPO
Singapore food-court operator Koufu plans to list on the stock exchange from July 18.
Koufu manages 47 food courts, 14 coffee shops, one hawker centre and the Punggol Plaza shopping mall in Singapore and a food court in Macau. According to the Business Times, the company is seeking to raise S$85 million in the IPO.
Funds raised will be used to expand the business, with plans to develop a central kitchen, open a Supertea kiosk at the Marina Bay Sands complex and open a food court at Sengkang General and Community Hospital.
According to its prospectus, Koufu recorded a net profit of $26.8 million last year on revenue of $216.7 million.
Koufu was founded by Pang Lim, now its CEO and executive director, and his wife Ng Hoon Tien, also an executive director, in 2002.