20 Mar 2017

Initial public offering and listing of Kimly Limited

Partner Hoon Chi Tern and Associates Esther Cher and Ng Su Rong from the Capital Markets / Mergers & Acquisitions Practice have acted for Kimly Limited (“Kimly”) in its initial public offering on the SGX-ST Catalist.

Kimly is the largest traditional coffee shop operator in Singapore with 26 years of experience. Kimly operates and manages 56 coffee shops and three industrial canteens under the Kimly and third party brands while five other food courts, located mainly in tertiary institutions, are managed and operated under the “foodclique” brand. It also operates Mixed Vegetable Rice, Teochew Porridge, Dim Sum, Seafood “Zi Char” food stalls and a Live Seafood Restaurant, catering to a broad and varied customer base.The public tranche of Kimly’s initial public offering was oversubscribed by more than 335 times, and the entire offering was approximately 8.3 times subscribed.

Kimly raised approximately S$44 million and its market capitalisation at the time of listing was approximately S$290 million.