SINGAPORE: Jumbo Group, the restaurant chain best known for its chilli crabs, is planning an initial public offering (IPO) on the Catalist board, according to a preliminary offer document lodged on Monday (Sep 21).
The group, which operates 14 outlets in Singapore and another two in China, is controlled by CEO Ang Kiam Meng and his family.
The firm made a net profit of S$11.5 million for the 12 months ended September 2014, on revenue of S$112.4 million.
According to reports, the IPO could raise about S$30 million.
Jumbo said it plans to use part of the listing proceeds to fund its expansion in Singapore and overseas.