Fore Coffee’s IPO Sees Overwhelming Demand Ahead of Stock Exchange Debut

PT Fore Kopi Indonesia Tbk (FORE), widely known as Fore Coffee, has successfully concluded its initial public offering (IPO), with the public offering phase taking place from April 8 to April 10, 2025.

The IPO received a remarkable response from retail investors during the centralized allotment phase. According to data from the e-IPO system updated through April 10, the offering was oversubscribed by an impressive 200.63 times, with a total of 114,873 investors participating.

“The overwhelming interest in Fore Coffee’s IPO highlights the strong appeal of homegrown startups, even amid uncertainty in the capital markets. The bold decision to proceed with the IPO despite the Jakarta Composite Index (IHSG) being at its lowest since the pandemic has paid off,” said Willson Cuaca, President Commissioner of Fore Coffee and Co-Founder & Managing Partner of East Ventures, in an official statement released on Friday, April 11.

Fore Coffee, trading under the ticker symbol FORE, is scheduled to make its debut on the Indonesia Stock Exchange (IDX) on Monday, April 14, 2025. The company has set its IPO price at Rp 188 per share. With the issuance of 1.88 billion shares, Fore Coffee expects to raise up to Rp 353.44 billion. This offering represents 21.08% of the company’s total issued and fully paid-up capital.

Fore Coffee’s strong IPO performance underscores investor confidence in the brand’s potential and growth trajectory. As a local coffee chain that has expanded rapidly in recent years, Fore Coffee continues to position itself as a key player in Indonesia’s food and beverage industry, appealing especially to tech-savvy urban consumers.

The company’s move to go public marks a significant milestone not only for the brand itself but also for the broader Indonesian startup ecosystem, which is increasingly gaining recognition from domestic and global investors alike.