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Oriental Kopi plans more cafes as IPO doubles on market debut in Malaysia
The Straits Times
|January 24, 2025
Shares of Oriental Kopi Holdings took off on their debut on Bursa Malaysia on Jan 23, opening at almost double their initial public offering (IPO) price on heavy buying interest.
The cafe chain operator, which listed on Bursa Malaysia's Ace Market for growth companies, opened at 81 Malaysian sen compared with its IPO price of 44 sen.
The shares hit an intra-day high of 99 sen before closing at 87.5 sen, valuing the company at around RM1.75 billion (S$534 million).
It was the most actively traded stock on Bursa Malaysia for the day, with more than 828.7 million shares traded.
Oriental Kopi raised gross proceeds of around RM184 million. Half is earmarked for setting up a new head office, central kitchen and warehouse in Selangor, and to double the number of cafes it owns and operates in Malaysia to 28 by 2026.
This story is from the January 24, 2025 edition of The Straits Times.
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