Baker Tilly's client, ST Group Food Industries Holdings Limited, debuts on SGX Catalist Board at S$0.26 per share

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. 

Mr. Saw Tatt Ghee, 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, 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, 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 and Lee Ping for their trust and confidence in partnering Baker Tilly for the IPO.” 

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About Baker Tilly
Baker Tilly is a full-service accounting and business advisory firm that offers industry-specialised services in assurance, tax and advisory. With a focus on serving entrepreneurs, family-owned businesses, not-for-profits, and listed companies, we help our clients plan for the future. Baker Tilly is an independent member of Baker Tilly International, one of the world’s 10 largest accounting and business advisory networks.