Backers of Coffee Unicorn Kopi Kenangan Said to Mull Stake Sales

Backers of Kopi Kenangan are considering selling some of their holdings in the Indonesian coffee chain, people familiar with the matter said.

Singaporean sovereign wealth fund GIC Pte and Peak XV Partners, which was formerly Sequoia Capital India and Southeast Asia, are among those exploring partial stake sales and working with a financial adviser, according to the people, who asked not to be identified because the deliberations are private.

Kopi Kenangan could be valued at $1.2 billion to $1.4 billion in a transaction, the people said, though that may change as considerations are still only at an early stage. ...