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Indonesia’s Fore Coffee raise $21m in oversubscribed IPO

Fore Coffee will use new funds to open 140 new stores in Indonesia across the next two years | Photo credit: Fore Coffee

The East ventures-backed coffee chain missed its $23m target but nevertheless saw its stock more than 200-times oversubscribed amid strong investor demand

Fore Coffee has achieved a valuation of Rp 1.6trn ($95m) after closing its IPO amid significant investor interest.

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