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The homegrown chain has risen to Malaysia’s leading coffee brand ahead of Starbucks. It is considering an initial public offering of its domestic operations. The aim is to fund expansion and strengthen brand momentum across key urban centres. Market chatter suggests the IPO could help diversify funding sources and attract international partners.
Moreover, the deal could raise at least RM1 billion ($245 million) and attract investor interest. This would deepen market presence and position Zus Coffee as a flagship example of Malaysia’s evolving consumer sector. Analyses note the timing would align with improving consumer sentiment in Malaysia. A successful listing could validate the domestic consumer sector for regional investors.
People familiar with the discussions say the IPO would provide growth capital as well. It would also signal investor confidence in lifestyle and consumerism businesses. The company has previously scaled operations while maintaining product quality. Officials declined comment while confirming ongoing discussions.
Zuspresso, which owns Malaysia’s largest coffee chain ZUS Coffee, is working alongside financial advisers to prepare for a possible initial public offering. The deal could value the company at about RM4 billion, according to people familiar with the matter who declined to be named because the talks remain private. If finalised, the offering could launch on Bursa Malaysia as early as mid‑2027, marking a significant milestone in the brand’s expansion journey.
The discussions remain ongoing, and key details such as the timing and scale of the share sale could still change, the people noted. Zuspresso has not provided a response to requests for comment.
Founded in 2019, ZUS Coffee quickly rose to prominence, surpassing Starbucks Corp. (SBUX) in 2024 to claim the title of Malaysia’s largest coffee chain by store numbers. Its rapid expansion has continued unabated, with the brand hitting 1,000 outlets in October and extending its footprint into Thailand, the Philippines, and Singapore.
A successful listing would add momentum to Malaysia’s equity capital markets, which have already enjoyed a strong run this year. First‑time share offerings have raised $1.5 billion to date, up from $978 million during the same period in 2025, according to Bloomberg data.
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