Singapore coffee shop operator Kimly Limited is preparing for a major step in its corporate journey, proposing to transfer its listing from the Singapore Exchange’s Catalist board to the Mainboard.
But the listing upgrade is about more than prestige.
Kimly says the move could give it greater access to capital, broaden its investor base and strengthen its ability to pursue larger investments, acquisitions and new areas of growth—including opportunities in the halal food and beverage market.
The proposed transfer, announced in a Singapore Exchange filing on Aug. 19, 2026, is not yet final. Kimly must obtain in-principle approval from SGX and secure shareholder approval through a special resolution. The company expects the vote to take place in January 2027, alongside its annual general meeting, subject to arrangements.
From Catalist to Mainboard
Kimly has been listed on SGX’s Catalist board since March 20, 2017. The company now believes it has reached a point where a Mainboard listing could better support its next phase of growth.
According to Kimly, the transfer could elevate its corporate profile, increase visibility among institutional and international investors and improve access to capital and strategic opportunities.
That could become particularly important if the company moves ahead with larger acquisitions or investments.
Kimly has said its growth strategy includes organic expansion, strategic investments, diversification and acquisitions, while also exploring businesses that are adjacent or complementary to its existing operations.
The halal food market is one area to watch
One of the most closely watched parts of Kimly’s expansion strategy is the halal food and beverage sector.
DBS Group Research has estimated Singapore’s halal F&B market at approximately S$1 billion, describing the segment as underpenetrated. Kimly has already expanded into the halal coffee shop space through ventures including the Kedai Kopi joint venture and the acquisition of Tenderfresh.
That gives the Mainboard proposal an interesting backdrop: a stronger capital-raising platform could potentially give Kimly more flexibility to pursue acquisitions and other expansion opportunities.
DBS analyst Chee Zheng Feng previously estimated that Kimly holds about 9% of Singapore’s coffee shop market. DBS initiated coverage on the company with a “buy” rating and a S$0.52 target price in May 2026.
Kimly’s financial performance is also improving
The proposed Mainboard transfer comes after a stronger first half of FY2026.
Kimly reported S$161.4 million in revenue for H1 FY2026, up 1.3% from S$159.3 million a year earlier. Net profit attributable to owners increased 10.6% year on year to S$16.4 million, compared with S$14.8 million previously.
The Business Times reported that H1 FY2026 revenue included approximately S$89.8 million from food retail, S$66.5 million from outlet management and S$5.1 million from the outlet investment business.
Those three areas form the core of Kimly’s business structure.
A growing footprint across Singapore
Kimly has built its business around Singapore’s traditional coffee shop and food outlet market since its founding in 1990.
The company operates across outlet management, outlet investment and food retail, with its network extending beyond coffee shops into food courts, stalls and food concepts. The Straits Times reported that Kimly had 84 coffee shops and food courts alongside nearly 180 individual food stalls and concept brands around the time of the Mainboard announcement.
Its expansion is also reaching Singapore’s hawker-centre sector.
A Kimly subsidiary, Hawkermania, was selected to manage One Punggol Hawker Centre from Aug. 15, 2026, following the end of the previous operator’s tenure.
What happens next?
The proposed transfer still has several hurdles to clear.
Kimly plans to submit its application to SGX through its sponsor, PrimePartners Corporate Finance. The company must obtain the necessary SGX approval and meet the requirements governing transfers from Catalist to the Mainboard. Shareholders must also approve the move through a special resolution.
Under SGX rules, a Catalist-listed company seeking a Mainboard transfer must meet specified requirements, including having been listed on Catalist for at least two years, satisfying relevant Mainboard listing requirements and obtaining shareholder approval.
For Kimly, the proposed move therefore represents more than a change in where its shares are listed.
It is a potential platform for the company’s next chapter—one centered on acquisitions, diversification, capital access and expansion into new food segments.
And with the halal F&B market emerging as one potential growth avenue, the bigger question may not simply be whether Kimly reaches the Mainboard, but what the coffee shop giant intends to do once it gets there.
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