Jumbo Group (IPO)

Jumbo Group: According to Bloomberg, sources indicate that Singapore’s popular seafood restaurant chain Jumbo Seafood, owned by the Jumbo Group, is preparing for an IPO next year, with plans to raise about $30m. The group aims to use the IPO proceeds to expand in China, where it opened its first overseas restaurant in Shanghai last December. Over in Singapore, the group currently owns five restaurant outlets. When asked to comment on the latest market news, Jumbo Group stressed that while it does not discount such a scenario on being in the pipeline, it will not comment on market speculations.