Shares & Derivatives
Yew Kee Duck Rice IPO: A tasty expansion opportunity
By Beansprout  •  February 5, 2023
  • YKGI, the company behind Yew Kee Duck Rice and Chicha Sanchen bubble tea, is set to list on the Catalist board of the Singapore Exchange (SGX) on 6 February 2023. The company intends to use the IPO proceeds to open new outlets in Singapore and drive expansion overseas. 
  • YKGI's revenue grew strongly from 2019-21 driven by its Franchise business. Management of YKGI expects revenue to grow further in FY22 with theopening of new outlets and improved performance of its existing portfolio. 
  • YKGI generated a higher net margin compared to its peers, but management expects cost pressures from higher food ingredient and manpower expenses. 
  • Based on its listing price, YKGI would trade at a price-to-earnings (P/E) of about 11x, inline with the P/E of Kimly and Japan Foods.
What happened? YKGI is set to list on the Catalist board of the Singapore Exchange (SGX) on 6 February 2023. YKGI owns a portfolio of eight food and beverage (F&B) brands, including...
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By Beansprout
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