FIGARO Coffee Group Inc. on Monday officially listed on the Philippine Stock Exchange following a successful initial public offering (IPO).
The homegrown brand which has been in the market since 1993 will use the funds from its IPO for store openings and commissary expansions.
It has raised some P767 million from its IPO. “As the nation rises with renewed strength and vigor from adversities, we at Figaro Coffee Group will continue to do what we do best, contribute to our economy, stakeholders and the country,” Figaro Coffee Group director and chairman Justin Liu said during the listing ceremony.
Figaro operates the brands Angel’s Pizza, Figaro Coffee, Tien Ma’s, TFG Express, and Café Portofino.
“The successful completion of Figaro Coffee Group’s maiden sale share demonstrated investor confidence with the product prospects, the company’s food and beverage brand as well as its strategic objective to further grow its business,” said PSE president Ramon Monzon. (CSL)