Malaysian Restaurant Chain PappaRich Mulls Singapore IPO
PappaRich Malaysia, the quick-service chain offering regional favorites on its menu, is considering an initial public offering (IPO) in Singapore to fund expansion, according to news reports.
The company, which opened its first restaurant in Malaysia in 2006, is targeting a valuation of at least US$140 million in a share sale that could happen as soon as this year.
PappaRich, which has 106 outlets globally, has expanded overseas in the past three years by adding locations in South Korea, Taiwan and New Zealand. Last year, it debuted in New York and Hong Kong. It also has a presence in Australia, Brunei, China, and Singapore.