What do you guy think about Old Town gong for listed?

Good....but wont invest

go try their "wan tun mien" then decide

Halal wan tun mien....yucks !!

there are much better company has better prospect than this.

see the price first la ... if IPO nice price y nt ?

the food not even nice ... how to invest ...

After invested, became STG and Island Red Cafe, then meletup Habis

I prefer papparich

cyberjaya branch got alot of people everyday, so im gonna buy it bc medium to high income people like to go there.

i will put into my portfolio

(1) the number of the kopitiam growing is just so cool, and most of them are franchised, no capex outlay to OLD TOWN
(2) the white kopi is getting good respond -- my brader always brings old town kopi as gift to his client in Japan, Taiwan, Korea, HK & CHina, the respond is amazingly good
(3) Food not so good, who cares, people go for lifestyle -- chit chat, kopi, wifi, who cares about the food.

Oversea oso gonna list, when will be secret recipe turn .......

No wonder they keep expanding in this short period. To push for listing.

Better than McD. So if McD can list so can Old Town

A way for the Owners of the franchise to retire. Transfer the risk to stockholders.


This post has been edited by Drian: Feb 9 2010, 07:55 PM

i do think old town price is oso reasonable

actually this is same as McD, KFC, Pizzahut.
that's how company make profit

My view.

Actually, oldtown success is not built upon its food, it is more about provide a decent kopitiam space for people to hang out, simple meeting etc, as stop by location.

Ordinary old style kopitiam - too dirty, unpleasant, no internet

Higher class like Starbuck - too expensive

Oldtown sit in the middle.

Took a quick flip through the prospectus. Business results looks OK to me. But I really don't like that the owners have paid themselves so much dividends before the IPO, effectively stripping out the working capital before listing (see Pg 292-293). And then throw on top the related party acquisitions to be consummated with IPO cash and shares. Whether things take off or not, they are already sitting pretty. Unless the valuations are attractive, I don't think I'm prepared give them my money to pay themselves, then use it to fund their expansion overseas. Expanding overseas is tough, more capital intensive and prone to costly errors. The bio of the management team just doesn't really convince me right now to take the plunge.