Fore Coffee's IPO Attracts 114,873 Investors, Oversubscribed 200 Times
Deal News | Apr 11, 2025 | East Ventures
Fore Coffee, an Indonesian premium coffee chain, successfully completed its initial public offering (IPO) which drew high interest from retail investors. Incubated by East Ventures, Fore Coffee raised approximately Rp353.44 billion by offering 1.88 billion new shares priced at Rp188 each. This IPO was oversubscribed by 200.63 times, highlighting investor confidence in the company's growth potential despite a volatile market. The company plans to use the IPO proceeds to expand its outlet network, establish new donut outlets, and increase its working capital. Fore Coffee is set to debut on the Indonesia Stock Exchange on April 14, 2025. Mandiri Sekuritas and Henan Putihrai Sekuritas acted as joint lead underwriters for the offering.
Sectors
- Food and Beverage
- Capital Markets
- Venture Capital
Geography
- Indonesia – Fore Coffee is based in Indonesia, and the IPO took place on the Indonesia Stock Exchange.
Industry
- Food and Beverage – Fore Coffee operates in the food and beverage industry, specifically in the coffee retail sector.
- Capital Markets – The article discusses the public offering of Fore Coffee on the Indonesia Stock Exchange.
- Venture Capital – East Ventures, a venture capital firm, incubated Fore Coffee.
Financials
- Rp353.44 billion – The total funds raised by Fore Coffee from its IPO.
- Rp188 per share – Initial public offering (IPO) price set by Fore Coffee.
- 200.63 times – The oversubscription rate of Fore Coffee's IPO.
- Rp275 billion – Funds allocated to expand Fore Coffee's outlet network.
- Rp60 billion – Funds allocated to establish new donut outlets.
- Rp18 billion – Funds allocated for working capital.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Fore Coffee | Target company | Company | Indonesian premium coffee chain that completed a successful IPO. |
| East Ventures | PE firm | Company | A venture capital firm that incubated Fore Coffee and participated in the IPO process. |
| IDX (Indonesia Stock Exchange) | Stock Exchange | Company | The stock exchange where Fore Coffee's IPO took place. |
| Mandiri Sekuritas | Lead underwriter | Company | Acted as a lead underwriter for Fore Coffee's IPO. |
| Henan Putihrai Sekuritas | Lead underwriter | Company | Acted as a lead underwriter for Fore Coffee's IPO. |
| Willson Cuaca | Chairman of Fore Coffee | Person | President Commissioner of Fore Coffee and Co-Founder and Managing Partner at East Ventures. |