The listing of Kimly brings the total number of Consumer companies listed on SGX to more than 150, with a combined market capitalization of about S$160 billion.
“We are very excited to welcome Kimly, one of the largest and most recognizable coffee shop operator chain in Singapore,” said Mohamed Nasser Ismail, head of Equity Capital Market and head of Capital Market Development at SGX.
“The listing of Kimly provides investors with an avenue to invest in Singapore’s growing food and beverage sector,” he added.
SGX hosts 11 restaurant and three food retail stocks with a combined market capitalization of about S$20.0 billion. Collectively, the 14 stocks have averaged a total return of 9.8 percent in the year-to-date.
The three strongest performers in the YTD were LifeBrandz, Dairy Farm, and ABR Holdings, according to the SGX.
“Singapore’s F&B industry is a substantial contributor to the domestic economy and the contribution is increasing due to rising affluence, GDP and population growth, increased popularity of food delivery services,” the SGX said in a statement.
It comes as the SGX puts forward a series of proposals aimed at improving retail investor participation in the market. From May 2nd 2017, it will mandate that all mainboard IPO companies allocate at least 5 percent, or $50 million, whichever is lower, of their offer size to retail investors.
