Kopi Kenangan, an Indonesian coffee chain that brought in Serena Williams and Jay‑Z as investors in 2019, is exploring a potential initial public offering that could value the company at up to $1.0 billion.

The firm is in early‑stage talks with banks to assess a listing in Singapore and other venues. No banks have yet been formally mandated to manage the IPO, according to sources familiar with the matter.

Kopi Kenangan’s vice president of corporate finance and development, Junxian Li, said the company routinely evaluates a range of strategic and financing options to support expansion and provide monetization opportunities for shareholders.

While the exact timing and size of the offering remain undetermined, the coffee chain’s move reflects growing interest from high‑profile investors in Southeast Asian food and beverage brands.