Fore Coffee Announces IPO on IDX
Deal News | Mar 22, 2025 | East Ventures
PT Fore Kopi Indonesia Tbk, known as Fore Coffee, has announced its plan to go public with an Initial Public Offering (IPO) on the Indonesia Stock Exchange. The company aims to offer 1.88 billion shares under the ticker FORE, representing 21.08% of the company's capital, with the price range set between Rp160 and Rp202 per share. This could raise up to Rp379.8 billion to fund its expansion across Indonesia. Fore Coffee plans to allocate 76% of the funds to expanding its outlet network, aiming to open 140 new outlets over the next two years. The company has grown rapidly, boasting 217 outlets across Indonesia and Singapore as of September 2024. With a revenue surge of 135% YoY, Fore Coffee stands out due to its innovative approaches in the Indonesian coffee market. The IPO is supported by East Ventures, a leading investor in the company. The partnership with East Ventures strengthens Fore Coffee’s market position, offering capital access and strategic opportunities. The company’s leadership team is credited for executing the robust business strategy driving this expansion.
Sectors
- Food and Beverages
- Financial Services
Geography
- Indonesia – Fore Coffee is based in Indonesia, and the IPO is set to take place on the Indonesia Stock Exchange, emphasizing the local economic impact.
- Singapore – Fore Coffee has already expanded its operations to Singapore, making it relevant in the context of regional business expansion.
Industry
- Food and Beverages – Fore Coffee operates in the food and beverages industry, specifically within the premium coffee segment, which is expanding in Indonesia.
- Financial Services – The article discusses an IPO, a financial service activity, on the Indonesia Stock Exchange, highlighting an interface between Fore Coffee and financial markets.
Financials
- 1.880.000.000 shares – Number of shares to be offered in the IPO by Fore Coffee.
- Rp160-Rp202 – Price range per share for Fore Coffee's IPO.
- Rp379.8 billion – Potential fundraising target from the IPO by Fore Coffee.
- 76% – Percentage of IPO proceeds allocated to expand Fore Coffee's outlet network.
- 140 – Number of new coffee outlets Fore Coffee plans to open.
- Rp727 billion – Fore Coffee's net sales as of September 2024.
- Rp447 billion – Fore Coffee's gross profit as of September 2024.
- Rp135 billion – Fore Coffee's EBITDA as of September 2024.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Fore Coffee | Target Company | Company | A leading premium coffee chain in Indonesia set to go public through an IPO. |
| East Ventures | Investor | Private Equity Firm | A key investor in Fore Coffee, supporting its IPO and expansion strategies. |
| Indonesia Stock Exchange | Stock Exchange | Company | The platform where Fore Coffee plans to execute its IPO. |
| Willson Cuaca | President Commissioner of Fore Coffee and Co-Founder and Managing Partner at East Ventures | Person | Plays a significant role in the strategic direction and supports Fore Coffee's IPO. |
| Vico Lomar | CEO of Fore Coffee | Person | Management leader vocal about the company's expansion and strategic goals. |