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Food Innovators Holding Limited

Food Innovators Holdings Limited ("FIH" or the "Company") is offering 14m shares at $0.22 each, for which 13m shares will be through placement and the remaining 1m shares via a Public Offer. The IPO will close on 14 Nov at 12 noon and starts trading on 16 Oct 9am.  FIH has two business models - the first is to be a master lease and sublease the space to other tenants and the second is to operate and manage restaurants.  The Company currently has 12 restaurants in Japan, 10 in Singapore and 4 in Malaysia. The market cap based on the IPO price is around $24.9m. Financial Highlights FIH's revenue grew from $37.8m in FY2022 to $43.8m in FY2024. It is quite funny to see that being a master land lease holder has a higher margin than operating the restaurants, once again illustrating the point that it is better to be a landlord to shake leg and collect rent. According to the prospectus, the PER is around 19x. The Company intends to pay 20% of its net profit after tax a
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SGX listing criteria


This is an article that appeared on the Business Times today on the things to consider before launching that IPO. Since this is a blog on Singapore IPOs, might as well post it here since not much IPOs to write about these days. kekeke. As you can see, to list on the Mainboard of Singapore, you need to have cumulative (1) pre-tax profits of S$7.5m over the last 3 years with at least a S$1m profit in each of the 3 years OR (2) Cumulative S$10m profits for the latest 1 or 2 years OR (3) market cap of at least S$80 million. As for listing on Catalist, just find a sponsor will do, like what that Artivision has done...
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