Kimly's kopi-o IPO 8.3 times subscribed

Kimly executive director Vincent Chia (second from left) and executive chairman Lim Hee Liat (third from left).
Kimly executive director Vincent Chia (second from left) and executive chairman Lim Hee Liat (third from left).PHOTO: ST FILE

SINGAPORE - Traditional coffee shop operator Kimly said on Friday (March 17) that its initial public offering (IPO) of 173.8 million new shares in the company at S$0.25 each was approximately 8.3 times subscribed.

This excludes subscriptions for 10.68 million placement shares by directors, substantial shareholders and their associates.

The company raised net proceeds of approximately S$40.4 million from the IPO.

Shares of Catalist-listed Kimly will begin trading at 9am on Monday.