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Hello reader,
Lately, being involved in the stock market feels like being on a rollercoaster.
When US President Donald Trump announced a slew of tariffs, it was a sea of red. But just yesterday, he announced that he was rolling back most of them, except those for China.
Cue fields of green.
Personally, my heart isn’t strong enough to take this volatility, so I’ve been putting my investments on hold for the last few months.
One Indonesian coffee startup, however, appears to be standing firm in its IPO plans for this year. Today’s story takes a look at Fore Coffee and explores its IPO in more detail.
Today we look at:
- Fore Coffee going full steam ahead
- An Australian startup’s launch in Singapore
- Other newsy highlights such as Bose Corporation’s US$20 million investment and Israeli startup Wing closing down
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Fore-ward unto IPO
Image credit: Timmy Loen
There’s been a sharp increase in specialized coffee chains in recent years. Besides Fore Coffee, there are players like Zus Coffee and Kopi Kenangan.
Fore Coffee, however, is taking it a step further with its IPO, which was set to launch on April 14
- 24 for Fore: Fore Coffee, which is backed by East Ventures, aims to raise US$24 million on the Indonesian bourse. Shares will be offered at a price range of roughly 0.38 to 1.28 US cents per share.
- Coffee-powered boost: The firm plans to allocate 76% of its IPO proceeds to expanding its outlet network across Indonesia, aiming for up to 600 locations within four years. Another 18% will go toward a capital deposit to launch a doughnut outlet through a subsidiary, while the remaining 6% will be used for working capital needs.
- We’re all in this together: According to Willson Cuaca, managing partner of East Ventures, the VC firm is not planning to exit following Fore’s IPO. The VC is also subject to a lock-up period of 12 months after the listing.
Good Biz-ness
Dive into expert-led sessions and interactive workshops at AMPED Malaysia on June 11
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