Chizu Café owner plans Singapore IPO to fuel Southeast Asian expansion

The move is part of Daruma Capital’s broader strategy to tap into Singapore’s deep capital markets and attract international investors, particularly those eyeing Southeast Asia’s rapidly growing consumer sector.

Despite a muted listings environment in Singapore, the SGX provides an ideal platform for accessing regional and global capital, while allowing the company to maintain its focus on operations, said Daruma Capital founder and managing director Ong Leong Fuei.

“The timing is particularly favourable,” Ong noted. “Consumer spending across the region remains robust, and international investors are increasingly drawn to high-quality regional F&B brands with proven scalability.”

Private equity firm MCI Capital Sdn Bhd has been hired as the financial adviser for the initial public offering (IPO), according to a statement from Daruma Capital. MCI Capital will advise Daruma on overall capital markets strategy, including listing readiness.

Details such as the size of the IPO or timeline were not elaborated on in the statement.

See also: UMS Integration issues prospectus for secondary listing on Bursa Malaysia

Currently, Daruma Capital has seven outlets in the Klang Valley under the “Meet Me at Chizu” concept and plans to expand across Southeast Asia. The company also operates Yaki Soul and Daruma pastry supply.

Established in Malaysia, the Japanese-inspired café brand is known for its signature blend of milky cheese foam with artisanal beverages and buttery croissants.

Daruma’s vertically integrated business model — with a central kitchen supporting multiple brands — would be a key driver of scalability and a strong draw for institutional investors, said MCI Capital chairman Datuk Cannis Chan noted.

“We understand what international investors seek in Southeast Asian F&B companies, and Daruma Capital checks all the boxes — including proven leadership, scalability, solid financials, and a clear growth strategy,” Chan added.