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Figaro optimistic of 'good future' ahead of its initial public offering

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ABS-CBN News

<p>MANILA - Figaro Coffee Group bets on the receptive investor market and the ongoing economic recovery to buoy its stock exchange debut even during the COVID-19 pandemic, its chairman said Friday.</p><p>Although the food sector was badly hit by mobility restrictions, recovery is on the way, Figaro Coffee Group Inc director and chairman Justin Liu told ANC.</p><p>Figaro has secured the approval of the Philippine Stock Exchange and the Securities and Exchange Commission for its initial public offering (IPO).</p><p>The home-grown coffee chain is set to debut on Dec. 31, the last IPO for the year.</p><p>&quot;Many are wondering why now? The answer really is there’s really no good time, there’s no perfect timing. We don’t know when to time the market,&quot; Liu said.</p><p>&quot;There are a lot of companies going public now. The investor reception is very good, global markets in the US and even the Philippines [has] recovered quite well. Basically, we see a very good future for the food and beverage industry in the Philippines so we think it’s a good time,&quot; he added.</p><p>Figaro, which has been around since 1993, eyes opening more company-owned branches.</p><p>Today, franchises make up for 50 percent of its portfolio, Lui said. </p><ul class="op-related-articles">	<li><a href="https://news.abs-cbn.com/business/11/17/21/figaro-secures-sec-nod-for-proposed-p169b-ipo">Figaro secures SEC nod for proposed P1.69 billion initial public offering</a></li>	<li><a href="https://news.abs-cbn.com/business/11/05/21/figaro-coffee-seeks-approval-for-ipo">Figaro Coffee seeks approval for initial public offering (IPO)</a></li></ul><figure class="op-interactive"><iframe allow="autoplay; fullscreen" frameBorder="0" height="100%" id="ivsplayer01" scrolling="no" src="https://player.ivideosmart.com/ivsplayer/v4/dist/html/iframe-src.html?iframeid=ivsplayer01&amp;key=e8c22c015ca9eafa76f1e3edfa03c603&amp;spid=3001339&amp;vid=1857037" width="100%"></iframe></figure><div class="iwantbar">Watch more in <a href="//www.iwantv.com.ph/">iWantv</a> or <a href="//tfc.tv/">TFC.tv</a></div><div> </div>

Figaro Coffee Group bets on the receptive investor market and the ongoing economic recovery to buoy its stock exchange debut even during the COVID-19 pandemic, its chairman said Friday.