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IPO Chilli Ratings

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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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IHH Healthcare Berhad - Finalize its price.

IHH Healthcare Berhad finalized its IPO price at RM2.80 with strong demand from Institutions. With Ringgit at record lows against SGD, the IPO price in SGD is fixed at $1.113 per share. The company also over alloted 169m shares and these shares will be used to stablize the market should price fall below the IPO price. The manager usually deploy this tactic when the demand is 'extra hot' and this stabilization exercise will continue for the earlier of 30 days or when the 169,429,366 shares have been bought back.

This is a very interesting IPO as the shares are fully fungible and the Manager can perform stabilization on either the Bursa or the SGX. Let's see which 'side of the causeway' performs better on that day. The indicative time table is below. You can check your balloting results on 23 July and trading will commence on 25 July.




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Comments

Anonymous said…
Hi,

Can you write on post on the upcoming Ascendas Hospitality Trust?

Thanks.
14 July 2012 at 15:14
Mr. IPO said…
Sure but let it get registered and release it's pricing first.
14 July 2012 at 15:51
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