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Kimly IPO generates $43.5 million

As the first coffee-shop company to list on the Singapore Exchange, Kimly generated gross proceeds of S$43.5 million (US$31.1 million) from its IPO.

Temasek Holdings unit Heliconia Capital Management was a cornerstone investor in the pre-IPO round.

Kimly’s entire 173.8 million share offering was 8.3 times subscribed, with the public tranche of 3.8 million shares subscribed 336 times.

Started 26 years ago, Kimly runs a network of 64 food outlets and 121 food stalls across the Singapore heartlands. It also has a central kitchen that supplies sauces and semi-finished food products to its food stalls.

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