Oriental Kopi Holdings Berhad has entered into an underwriting agreement with Alliance Islamic Bank Berhad as part of its upcoming initial public offering on the ACE Market of Bursa Malaysia Securities Berhad.

The popular chain recently entered into a joint venture arrangement with Paradise Group Holdings Pte Ltd, the Group has recently commenced its first oversea cafe in Singapore's bustling Bugis Junction. Additionally, the Group operates 1 specialty retail store in St. Giles Southkey Hotel in Johor.

The IPO involves the public issuance of 418.1 million new ordinary shares, representing 20.9% of the Company's enlarged number of issued shares of 2.0 billion ordinary shares upon its listing.

AIS is to underwrite a total of 80.0 million IPO Shares made available to the Malaysian public and Pink Form Allocation.

Managing Director of Oriental Kopi, Dato' Chan Jian Chern said, "We are thrilled to be one step closer to our upcoming listing on the ACE Market of Bursa Securities. This milestone will provide us with the necessary resources and platform to accelerate our growth and strengthen our brand presence."

"To achieve this vision, the IPO proceeds raised from our Public Issue will be allocated towards setting up of head office, central kitchen and warehouse, expansion of cafes in various states within Malaysia, expansion of our brands of packaged foods segment, and marketing activities in foreign countries. These initiatives will not only strengthen our brand presence but also enable us to elevate Malaysia's culinary identity," Dato' Chan concluded.

The Company is scheduled to be listed on the ACE Market of Bursa Securities by first quarter of 2025, with AIS as the Principal Adviser, Sponsor, Sole Underwriter and Placement Agent for the IPO. Through this upcoming listing, Oriental Kopi takes a bold step forward in sharing Malaysia's treasured culinary heritage with the world.