Highlands Coffee eyes to raise $400M in IPO

By Dat Nguyen January 26, 2026 | 06:39 pm PT

Highlands Coffee, the biggest coffee chain in Vietnam, is considering an initial public offering in the country that could raise US$300-400 million.

The company is working with a financial adviser and may bring additional banks on board, sources told Bloomberg, declining to be identified as the information is private.

Customers seen at a Highlands Coffee shop. Photo courtesy of Highlands Coffee

Discussions are still under way and details, including the size of the IPO, remain subject to change, the sources added.

Philippine fast-food group Jollibee Foods holds a 60% stake in SuperFoods Group, the owner of Highlands Coffee, after first investing in the business in 2012.

Highlands Coffee was founded in 1999 by Vietnamese-American entrepreneur David Thai. The chain now has 928 outlets in Vietnam and overseas.