Macau’s Café E.S. KIMO to attempt HK listing

Hede Holdings, the parent company of Café E.S. KIMO, a Macau-based food and beverage chain, has applied to be listed on the Hong Kong Stock Exchange’s (HKEx) GEM Board, reported local Chinese newspaper Macao Daily News.

HKEx’s GEM Board accommodates small and medium-sized enterprises.

According to the application document, the nomination stock price is HKD0.01. The food chain operator disclosed in the same document that the group’s revenue was approximately MOP82 million, MOP86 million and MOP42 million in 2017, 2018 and the first half of 2019 respectively.

As for net profit, the group recorded around MOP11 million for 2017 and MOP9 million for 2018. In the first half of 2019, it recorded a loss of MOP5.39 million.

The group noted that it is the second largest ‘cha chaan teng’ operator in Macau, occupying about 8.2% of market share by revenue. ‘Cha chaan teng’ is a dining concept originating from Hong Kong that incorporates a blend of Chinese and Western dining, providing foods with influences from both sides.

Apart from E.S. KIMO, Hede Holdings also manages two other brands: Lok Kuan and Sun Fong Wah (both transliterated from Cantonese). AL