World Franchise Associates - Building Franchise Business Worldwide


MindChamps (Singapore) Signs Second Master Franchise Agreement for Vietnam

26 Dec 2017 - Mainboard-listed MindChamps PreSchool has inked a second master franchise deal since its initial public offer (IPO) in November, in a move to take the education company to Vietnam.

The agreement with Vietnam's Evergrande Group involves opening 20 centres in the country, the company said in a statement on Tuesday.

The first two - MindChamps PreSchool and MindChamps Reading Centres - are expected to open next year, in Ho Chi Minh city and Hanoi, the company's spokesman added.

The company's first deal included expanding into Myanmar and China.

In Myanmar, it signed a franchise agreement with Passion Capital Venture and the first centre is first expected to open in Yangon next August.

MindChamps's IPO price was 83 Singapore cents.

The offer of 30.45 million shares included a placement of 28.45 million shares that was 21.4 times subscribed, plus a public offer of two million shares, that were subscribed 83 times. About $34.5 million of the IPO proceeds have been earmarked for expansion.

As at Dec 20, the group has a market capitalisation of $187.24 million.

MindChamps was founded as an educational research centre in Australia in 1998. Its first preschool was opened in Singapore in 2008. Now, it has 10 company-owned and 44 franchisee-operated preschools and reading-and-writing centres across Singapore, Australia, the Philippines and the United Arab Emirates.

MindChamps' counter closed at 0.5 Singapore cents, down to 77 cents, at the end of trading.

The New Paper



Subscribe to FranSpeak and receive free, monthly news and features about international franchising.


International Franchise News.International Franchise News.

© World Franchise Associates Ltd 2016. All rights reserved.
UK Company No. 6203737. 26 York Street, London, W1U 6PZ. +44 (0) 8446 698 980

Disclaimer: World Franchise Associates Ltd. is a privately owned limited liability company specializing in international franchise development and advisory services.
World Franchise Associates is not an NGO or franchise association and is not affiliated in any way with the World Franchise Council.
World Franchise Associates is a member of the International Franchise Association. Member of the IFA International Committee and
Member of the Advisory Council for the Global Restaurant Leadership Conference.