Coffee shop operator Kimly proposes SGX mainboard transfer
The move will elevate the group’s corporate profile, enhance its visibility among a wider investor base
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[SINGAPORE] Coffee shop operator Kimly proposed a transfer to the Singapore Exchange (SGX) mainboard, subject to regulatory and shareholder approval.
“The mainboard transfer will serve to elevate the group’s corporate profile, enhance its visibility among a wider investor base, including institutional and international investors, and improve access to capital and strategic opportunities,” the Catalist-listed company said in a Wednesday (Aug 19) bourse filing.
In addition, the group noted that a transfer to the mainboard will strengthen Kimly’s platform for long-term growth, allowing the company to pursue larger-scale and transformative opportunities, and position it “favourably” to execute its growth plans.
One potential growth avenue the coffee shop operator is looking at is the halal sector.
Chee Zheng Feng, analyst at DBS Group Research, noted in a May report that Kimly has expanded into the “underpenetrated” halal coffee shop segment via joint ventures and acquisitions.
DBS Group Research estimated the halal food and beverage market size to be worth approximately S$1 billion.
Since its listing on Catalist in 2017, Kimly has strengthened its position as one of Singapore’s established traditional coffee shop operators through various segments, it noted in the bourse release
The segments include outlet management, outlet investment business and food retail.
Food retail revenue for H1 2026 stood at S$89.8 million, while outlet management revenue came at S$66.5 million. Outlet investment business revenue stood at S$5.1 million.
“(Kimly) has progressively expanded the scale and diversity of its operations, while improving operational efficiency and reinforcing business resilience,” the group noted.
Kimly’s H1 2026 net profit rose 10.6 per cent to S$16.4 million, from S$14.8 million the previous year.
In his May report, Chee noted that Kimly “is one of the leading coffee shop operators”, holding approximately 9 per cent of market share in Singapore.
DBS Group Research initiated a “buy” coverage for Kimly in May, with a target price of S$0.52, citing that the coffee shop operator has a unique advantage of being a listed company.
“As a listed company, Kimly is in a unique position to raise funds through share placements to fund acquisitions, serving the dual role of supporting growth and improving liquidity,” said Chee.
Kimly said it will prepare and submit an application to SGX through its sponsor, PrimePartners Corporate Finance.
The transfer requires SGX in-principle approval and a shareholder special resolution, added the group, noting that the vote is expected to be held in January 2027.
As at Wednesday, shares of Kimly traded at S$0.39, unchanged since the start of the year.
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