FOOD & BEVERAGE, MARKETS & INVESTING | Staff Reporter, Singapore

Seafood restaurant No Signboard seeking $130m in upcoming IPO

It eyes replicating the success of rival Jumbo Group.

According to Bloomberg, Singapore seafood hawkers have been competing for decades in the city-state’s notoriously cutthroat culinary scene. Now they’re vying for the favour of stock market investors.

No Signboard Holdings Ltd., known for its signature white pepper crab dish, started taking orders this week for an initial public offering that could value the company at as much as S$130 million ($95 million). It’s seeking to replicate the success of long-time rival Jumbo Group Ltd., the chili crab purveyor whose shares have more than doubled since its first-time share sale in October 2015.

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