Multi-food brand operator, YKGI Limited, has lodged its preliminary offer document to list on the Singapore Exchange’s (SGX) Catalist board.
YKGI Limited is a homegrown food and beverage (F&B) group that comes with over 30 years in the business. It currently has a portfolio of eight non-Halal and Halal food brands in Singapore.
The group, which founded the popular Yew Kee Duck Rice (formerly Yu Kee Duck Rice), also runs other brands, including the bubble tea brand, Chicha San Chen, My Kampung Chicken Rice and PastaGo.
According to the group’s press release dated Jan 3, the initial public offering (IPO) will comprise a sole placement tranche. There will not be a public offer.
So far, cornerstone investors have entered into agreements with YKGI to subscribe for cornerstone shares. They are: David Teo Kee Bock, the founder of Super Group and Apricot Capital, and Huan Yong Group, an investment holding company of the Te family. The Te family patriarch, Ronald Te Kok Chiew, was a co-founder of the Super Group along with Teo.
Proceeds from the placement and the issuance of the cornerstone shares will be used mainly for the expansion of YKGI’s business including opening new outlets in Singapore and abroad.
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RHT Capital Pte. Ltd. is the group’s issue manager and full sponsor. Evolve Capital Advisory Private Limited and KGI Securities (Singapore) Pte. Ltd. are the joint placement agents of the IPO.
