Singapore Coffee Shop Operator Kimly Seeks Mainboard Transfer to Fund Acquisitions

KEY TAKEAWAYS

·Kimly, which operates 84 coffee shops and food courts in Singapore, filed to transfer its listing from Catalist to the SGX mainboard to access broader capital and pursue acquisitions.
·The company targets the halal food and beverage segment, estimated by DBS Group Research at S$1 billion in Singapore, and has already entered through joint ventures and acquisitions.
·Shareholder approval via special resolution is required at an extraordinary general meeting expected in January 2027 for the mainboard transfer to proceed.

From Catalist to Mainboard

Kimly, a Singapore-based coffee shop and food court operator, has filed to transfer its listing from the Catalist board to the mainboard of the Singapore Exchange. The group disclosed the plan in a Wednesday bourse filing, stating that the move would strengthen its ability to pursue acquisitions, diversify revenue streams and enter new growth segments.

The company currently operates 84 coffee shops and food courts under multiple brands, alongside nearly 180 individual food stalls and concept brands including Kedai Kopi and Tonkichi. Kimly has been listed on Catalist since March 2017. The SGX mainboard serves more established companies, while Catalist caters to smaller, growth-stage businesses.

According to Kimly, a mainboard listing would elevate its corporate profile, improve access to capital markets and attract a wider investor base, including institutional and international funds. The company emphasized that the transfer would provide a stronger platform for larger-scale and transformative opportunities.

Three Business Segments, One Strategy

Kimly operates across three core segments: outlet management, outlet investment and food retail. The business is underpinned by a network of food outlets, central kitchen infrastructure and technology systems that support day-to-day operations.

The group plans to grow through organic expansion, strategic investments, business diversification and value-adding acquisitions. One area of particular interest is the halal food and beverage market, which Kimly described as a sector with significant growth potential.

DBS Group Research analyst Chee Zheng Feng noted in a May report that Kimly has been expanding into what he called the underpenetrated halal coffee shop segment through joint ventures and acquisitions. DBS Group Research estimates the halal food and beverage market in Singapore to be worth approximately S$1 billion.

Institutional Appeal and Capital Access

The shift to the mainboard is designed to broaden Kimly's appeal to institutional investors, who typically focus on companies listed on the main exchange. Access to a deeper pool of capital would enable the group to pursue larger acquisitions and accelerate its diversification strategy.

Kimly's filing made clear that the transfer is intended to support not just incremental growth but transformative deals that could reshape the company's footprint in Singapore's competitive F&B landscape. The halal segment represents one such opportunity, with Kimly already building a presence through partnerships and targeted acquisitions.

The company's central kitchen capabilities and technology backbone position it to scale operations quickly once new outlets or brands are integrated. This infrastructure advantage could prove decisive as Kimly competes for market share in both traditional coffee shop formats and emerging segments like halal F&B.

Shareholder Vote Required

The mainboard transfer remains subject to several conditions. Kimly must secure shareholder approval through a special resolution at an extraordinary general meeting, which the company expects to hold on the same day as its annual general meeting in January 2027.

If approved, the transfer would mark a significant milestone for a company that has grown from a single coffee shop operator to a multi-brand F&B platform with nearly 270 touchpoints across Singapore. The mainboard listing would also provide Kimly with greater visibility among regional and global investors, potentially opening doors to partnerships and capital beyond Singapore.

For now, the focus remains on navigating the approval process and articulating a clear growth strategy to shareholders. Kimly's ability to execute on acquisitions and diversify into high-potential segments like halal F&B will determine whether the mainboard transfer delivers the returns the company is betting on.

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From Catalist to Mainboard

Three Business Segments, One Strategy

Institutional Appeal and Capital Access

Shareholder Vote Required

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