Singapore seafood restaurant operator Jumbo Group plans an IPO to raise up to $30 million.

Jumbo Group is renowned locally for its chilli crab signature dish, served up at 14 outlets around Singapore and two in China. The financial press reports the group achieved a profit of $11.5 million last financial year on turnover of $112.4 million.

The family owned business believes an IPO will raise funds for expansion of the concept both within Singapore and abroad.

The company is currently owned by CEO Ang Kiam Meng and his family.