JAKARTA - PT Fore Kopi Indonesia Tbk (FORE) as of September 2024 recorded sales increased 135.27% to IDR727 billion, compared to the same period the previous year of IDR309 billion.

This growth shows a significant improvement in the company's performance. In line with this achievement, FORE is targeting revenue growth of up to 50% in 2025 after its initial public offering (IPO).

FORE President Director Vico Lomar stated that aggressive business expansion is one of the main factors in realising this target.
‘We are targeting revenue to increase by around 40% to 50% by 2025,’ Lomar said in a press conference on Friday (21/3).

This optimism is supported by strong business fundamentals and an expansion strategy that has been prepared for the next few years.

To achieve this target, FORE plans to add around 140 new outlets until 2026. This year, the company targets to open at least 72 new outlets in various cities, including in previously unreached areas such as Ambon and Aceh.

‘We still haven't entered Ambon, maybe this year we will start expanding there, also to Aceh and other cities that don't exist yet,’ said Vico.

As part of its funding strategy for this expansion, FORE is offering 1.88 billion shares or 21.08% of its issued and paid-up capital after the IPO. The share price is offered in the range of IDR160-IDR202 per share, with a nominal value of IDR70 per share.

From this action, the company has the potential to raise funds of up to IDR379.76 billion, which will be used for operational strengthening and business expansion in various regions.(DK/LM)