Indonesia's Fore Coffee shares rise 34% in debut in choppy market

76% of $21m IPO proceeds will be allocated for domestic store expansion

20250409 Fore Coffee

A Fore Coffee shop in Jakarta: The grab-and-go coffee chain targets customers looking for affordable, fresh coffee. (Photo by Nana Shibata)

NANA SHIBATA

JAKARTA -- Shares in Indonesian coffee chain Fore Coffee rose 34% in their stock market debut on Monday, as investors scrambled to get a piece of the coffee retailer, despite recent market turmoil.

The share price shot up to 252 rupiah in the opening minutes of trading from the initial public offering price at 188 rupiah per share.

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