Hong Kong-based restaurant operator Cafe Deco Group files and sets terms for a $13 million US IPO
January 28, 2026 News
Hong Kong-based Cafe Deco Group ups shares offered, decreases range ahead of $19 million US IPO
Cafe Deco Group, which operates restaurants and bakeries in Hong Kong and Australia, raised the proposed deal size for its upcoming IPO on Wednesday.
The Hong Kong, China-based company now plans to raise $19 million by offering 3.8 million shares at a price range of $4 to $6. The company had previously filed to offer 1.8 million shares at a range of $6 to $8. At the midpoint of the revised deal size, Cafe Deco Group will raise 49% more in proceeds than previously anticipated and command a market cap of $144 million, a -5.8% change from the previous terms.
IPO Overview
Cafe Deco Group, which operates restaurants and bakeries in Hong Kong and Australia, filed on Monday with the SEC to raise up to $13 million in an initial public offering.
The Hong Kong-based company plans to raise $13 million by offering 1.8 million shares at a price range of $6 to $8. At the midpoint of the proposed range, Cafe Deco Group would command a market cap of $153 million.
Cafe Deco is a food and beverage group that operates 45 restaurants across Hong Kong and Sydney, Australia, offering a range of casual dining concepts through both self-operated brands and licensed international brands such as Chatime and Duan Chun Zhen. Its business model is vertically integrated, encompassing a food processing division, Food Square, which serves about 400 foodservice outlets, and a bakery division, Baker & Patissier, which supplies roughly 350 outlets in Hong Kong and Macau.
The Hong Kong-based company was founded in 1998 and booked $108 million in revenue for the 12 months ended March 31, 2025. It has not yet selected an exchange or a ticker （RC ticker: CFDE.RC）。 Kingswood Capital Markets is the sole bookrunner on the deal.
Corporate Business
Cafe Deco is a unique food and beverage group headquartered in Hong Kong. The Group’s business consists of two divisions: （i） restaurants operations which consist of Hong Kong restaurants, bars and cafes, operating as Cafe Deco and the iconic Cafe Sydney in Sydney, Australia; （ii） food and bakery operations which consist of Food Square, a premium fish and meats import, processing and distribution business in Hong Kong and Baker & Patissier, a premium western bakery and patisserie production, distribution and retail business in Hong Kong. The Group’s proven capability to deliver concepts across a wide range of cuisine types and different operating settings allows it to be adaptive to the market and also makes the Group a preferred partner for many corporate landlords. With decades of accumulated operating experience in Hong Kong and Australia, the Group is very well tuned to the market trends and consumer preferences. In addition, with a loyalty members app that is operating in Hong Kong with a quickly growing membership base, the Group will make use of the platform and data analytics to drive spending growth.