Kopi Kenangan may be getting closer to the public markets. The Indonesian coffee chain backed by Serena Williams and Jay-Z has approached banks about a possible IPO, according to The Wall Street Journal.
The early discussions could value the company at as much as $1 billion, although no final decision has been made. The company is already profitable and has more than 1,300 locations across six countries. The report also cites Quartz and All Hip Hop.
