SGX welcomes ST Food Group to Catalist
SINGAPORE: Singapore Exchange (SGX) has welcomed ST Group Food Industries Holdings Limited to its Catalist under the stock code “DRX”. ST Group Food Industries Holdings Limited opened at S$0.28 today.
Headquartered in Australia, ST Group Food Industries Holdings Limited owns exclusive franchise and license rights to six internationally popular food and beverage (F&B) brands such as “PappaRich”, “IPPUDO”, “Gong-Cha” and “NeNe Chicken” in Australia, New Zealand, Malaysia and the United Kingdom. The Group also developed its own brands, “PAFU” and “KURIMU”.
Saw Tatt Ghee, Executive Chairman and CEO, ST Group Food Industries Holdings Limited, said, “We have grown tremendously since the opening of our first PappaRich restaurant in Melbourne, Australia in 2012, to a network of 101 outlets comprising 38 Group-owned outlets and 63 outlets owned and operated by our sub-franchisees and sub-licensees, as at 31 May 2019. We have also successfully expanded our portfolio to include six internationally popular F&B brands and two of our own brand concepts. Our listing is a significant development in our corporate journey, which will provide a platform for ST Group to embark on business expansion supported by the capital raised, while enhancing the visibility of our brands across our key geographical markets.”
Mohamed Nasser Ismail, Head of Equity Capital Markets, SGX, said, “We are pleased to welcome ST Group Food Industries Holdings Limited to Catalist. It is a reputable F&B group with a diversified portfolio of well-known brands, many of which investors will be familiar with. As increasing disposable incomes and tourism continue to drive F&B demand, investors will be able to tap into the opportunities arising from the company’s plans to expand its franchise network and introduce new brands in existing and new markets.”
With a market capitalisation of about S$64 million, the listing of ST Group Food Industries Holdings Limited brings the total number of consumer companies listed on SGX to 143 with a combined market capitalisation of about S$92 billion. The total number of companies listed on Catalist rises to 219, with a combined market capitalisation of about S$9 billion.