PappaRich Malaysia, a company with a food chain in Malaysia and Singapore, is reviewing a initial public offering for the Singapore arm to fund its expansion, according to a report by Bloomberg.
According to the report, the food chain aims to achieve a valuation of at least SG$200 million by this year. The company, which opened its first restaurant in Malaysia in 2006, has about 100 outlets globally, has expanded overseas in the past three years by adding locations in the U.S., South Korea, Taiwan and New Zealand.
In a statement to Bloomberg, a spokesperson by PappaRich said that as a part of the expansion plans, the company has always been keen on a listing. He further added in the statement that PappaRich expects to have a valuation in excess of SG$200 million upon listing.
According to its website, more than 1 million customers dine at PappaRich outlets monthly and has been adding a growing number of outlets in Malaysia and abroad.
A+M has reached out to the company for more information.