Baker Tilly's client, ST Group Food Industries Holdings Limited, debuts on SGX Catalist Board at S$0.26 per share
Above from left: Ms. Sek See Mun, Assurance Manager, Baker Tilly Singapore, Mr. Saw Tatt Ghee, Executive Chairman and CEO of ST Group Food Industries Holdings Limited, Ms. Saw Lee Ping, Executive Director and CAO of ST Group Food Industries Holdings Limited and Mr. Joshua Ong, Partner & Practice Leader, Assurance, Capital Markets & IPO, Baker Tilly Singapore.
Singapore, 3 July 2019 – Baker Tilly is pleased to announce that it has successfully supported its client, ST Group Food Industries Holdings Limited, in its listing on Singapore Exchange (SGX) Catalist Board on 3 July 2019. The Australian-headquartered food and beverage (F&B) firm debuts at S$0.26 per share with an expected market capitalisation of approximately S$64 million.
Baker Tilly acted as the Independent Auditor and Reporting Accountant for ST Group Food Industries Holdings Limited’s Initial Public Offering (IPO). The listing marks a significant milestone for the F&B group to enhance its access to capital markets to fund the expansion of its franchise network and central kitchens as well as enhancing the visibility of its portfolio of brands across key geographical markets.
ST Group Food Industries Holdings Limited has a diversified portfolio of six international brands comprising PappaRich, NeNe Chicken, Gong Cha, Hokkaido Baked Cheese Tart, IPPUDO and iDarts, as well as two own brand concepts PAFU and KURIMU in various territories in Australia, New Zealand, Malaysia and England, United Kingdom.
Above: Group photo with ST Group Food Industries Holdings Limited at the listing ceremony
Mr. Saw Tatt Ghee, Executive Chairman and CEO of ST Group Food Industries Holdings Limited:
“Baker Tilly demonstrated the highest level of professionalism as the Reporting Accountant for our IPO on the Singapore Exchange. We are glad to partner Baker Tilly as ST Group Food Industries Holdings Limited embarks on its strategic business expansions across key geographical markets.”
Ms. Saw Lee Ping, Executive Director and CAO of ST Group Food Industries Holdings Limited:
“Great experience with the Baker Tilly team – they are responsive and efficient, with very good knowledge of SGX’s listing rules and requirements. Joshua and See Mun collaborated seamlessly with their Baker Tilly counterparts in Australia and Malaysia in delivering results.”
Mr. Joshua Ong, Partner & Practice Leader, Assurance, Capital Markets & IPO of Baker Tilly Singapore:
“We are pleased to be part of the team achieving this significant milestone for ST Group Food Industries Holdings Limited. We thank Tatt Ghee, CEO, and Lee Ping, CAO, for their trust and confidence in partnering Baker Tilly for the IPO.”
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NOTES TO EDITORS:
About ST Group Food Industries Holdings Limited (“ST Group”)
From our inception in 2011, ST Group has flourished and expanded through various brands around Australia that have grown into household names throughout the nation. From modest beginnings in Melbourne, ST Group strives to always be better and has successfully grown into 8 current brands and 101 collective outlets across Australia, New Zealand and Malaysia. Our first “Gong Cha” outlet in England, United Kingdom, commenced operations in City Tower, Manchester, England in June 2019.*
*Information correct as at 31 May 2019
For more information, visit https://stgroup.net.au.
About Baker Tilly Singapore
Baker Tilly Singapore (“Baker Tilly”) is a full-service accounting and advisory firm that offers industry-specialised services in assurance, tax, deal advisory, governance and risk, restructuring and recovery, outsourcing and corporate secretarial. We are one of the 10 largest accountancy and business advisory firms in Singapore and a member of Baker Tilly International, a top 10 global network of independent accounting and business advisory firms in 145 territories with 35,000 professionals. As of December 2018, the combined worldwide revenue of independent member firms is reported at US$3.6 billion.
Baker Tilly TFW LLP trading as Baker Tilly is an independent member of Baker Tilly International. Baker Tilly International Limited is an English company. Baker Tilly International provides no professional services to clients. Each member firm is a separate and independent legal entity, and each describes itself as such. Baker Tilly TFW LLP is not Baker Tilly International’s agent and does not have the authority to bind Baker Tilly International or act on Baker Tilly International’s behalf. None of Baker Tilly International, Baker Tilly TFW LLP, nor any of the other member firms of Baker Tilly International has any liability for each other’s acts or omissions. The name Baker Tilly and its associated logo is used under licence from Baker Tilly International Limited.