Fore Coffee Shares Surge 34% in IPO Debut, Plans 140 New Outlets

Indonesian coffee chain Fore Coffee made a significant splash on its debut at the Indonesia Stock Exchange (IDX) on April 14, with shares soaring 34.04% to 252 rupiah, well above its IPO price of 188 rupiah. This marked Fore Coffee as the first company in Indonesia's fast-growing coffee sector to go public, attracting over 114,000 investors and achieving an oversubscription rate of more than 200 times. The successful IPO raised approximately 353.4 billion rupiah in fresh capital, with plans to allocate a substantial portion towards expanding its retail presence across the country. Despite global market uncertainties and tariff tensions, Fore's leadership expressed confidence in their local-focused business model and growth potential. The company aims to open 600 locations within the next four years and invest in new product lines, reinforcing its commitment to sustainable growth and corporate governance. Fore Coffee's strong market debut reflects the growing appeal of homegrown startups in Indonesia's evolving economic landscape.