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Coffee franchise Ediya announces plan to go public

Dec 19,2017
Ediya Coffee, a local low-cost coffee franchise operator, said Monday it plans to list the company on the local bourse, marking the first move to go public among its rivals here.

The coffee franchise operator said it has signed up Mirae Asset Daewoo Securities as the lead manager for its listing.

The latest decision to go public is part of its efforts to secure funds to construct a new roasting factory in Pyeongtaek, 70 kilometers (43.5 miles) south of Seoul, according to the company. Ediya recently bought a 13,200-square-meter (3.26-acre) plot of land in the region.

Ediya also aims to improve the brand’s competitiveness and the management transparency through the listing, it said. Yonhap