Heaptalk, Jakarta — Indonesia’s food and beverage company PT Fore Kopi Indonesia plans an Initial Public Offering (IPO), offering up to approximately 1.88 billion shares. According to the prospectus, the prospective issuer, FORE, has set an initial offering price range of Rp160–Rp202 per share. The Company aims to raise an estimated US$22.9 million through this strategic measure, which is equal to Rp379.76 billion.
The Company plans to allocate approximately 76% of the funds to establish around 140 new outlets still obtaining permits. The allocation includes 10% for Flagship outlets, 80% for Medium outlets, and 10% for Satellite outlets, covering expenses such as renovations, equipment acquisition, and outlet setup. These new locations will be developed across Jabodetabek and various regions in Java, Sumatra, Kalimantan, Sulawesi, and Bali. The fund disbursement will be carried out progressively from 2025 to 2026.
Furthermore, approximately 18% of the allocated funds will be invested in CFI, which will then be utilized to open around 30 new outlets currently obtaining permits. The composition consists of 10% for Flagship outlets, 65% for Medium outlets, and 25% for Satellite outlets, covering but not limited to renovation expenses, equipment procurement, and outlet setup. These new establishments will be launched in Jabodetabek and other key regions across Java, Sumatra, Kalimantan, Sulawesi, and Bali. The fund utilization is scheduled to take place progressively from 2025 through 2027.
The Company specializes in the food and beverage industry, focusing on roast coffee products. Catering to the rapidly growing middle-class market, it has successfully introduced high-quality yet affordable premium offerings. This approach meets consumer demand for innovation and enhances the shopping experience. The Company has also expanded internationally through its subsidiary in Singapore.
In Indonesia’s coffee industry, Fore achieved a Same-Store Sales Growth (SSSG) of 42% for the nine months ending September 30, 2024—far exceeding the global average of 5%. This strong performance reflects the brand’s market strength, effective marketing strategies, and continuous product innovation.
With a strategic focus on the Foodservice Roast Coffee segment, projected to account for 66% of the total coffee market by 2030, the Company is well-positioned to capture market opportunities and drive sustainable growth. It also leverages shifting consumer habits, as more Indonesians purchase roast coffee outside the home.
