Kuya J plans to enter stock market by 2020
Restaurant chain operator Kuya J Group Holding Inc. said it plans to brave the local stock market by 2020 via an initial public offering (IPO).
This, as a report in Philippine Daily Inquirer showed that the company already ruled out the possibility that it will enter the Philippine Stock Exchange (PSE) through a backdoor listing via its shell company, Pacifica Inc.
“The brand is big already. It deserves an IPO,” Kuya J Group chair Lowell Yu said the report.
Right now, the company’s flagship brand, Kuya J restaurant, already established a solid footing in the food retail industry, having 106 branches so far.
Just recently, Kuya J Holdings obtained the Philippine master franchise for famous American fast-food chain Popeyes.
Kuya J Group also owns and operates Isa Sugbu Seafood City, Tsay Cheng Chinese Chusine, Majestic and Grand Convention Centre of Cebu.