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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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IPO Performance Table

Dear readers,


I am pretty heartened to receive email queries on why my 'calculations' on the performance table seemed to be wrong and asked if i have either received special commission rates or have calculated wrongly. Let me just clarify that:



  1. The commission i pay is minimum $40 or 0.4%. The reason why i pay $40 commission is because i prefer to maintain some goodwill with some brokers and route some IPO trades through them. 
  2. For other times when i trade online, the commision may be minimum $28 or 0.275% etc. 
  3. Rather than tracking the commission separately, my table records cost that includes commission and proceeds that excludes commission. As such, the cost price per share and sale price per share are derived figures. Cost price per share = (Investment cost plus placement commission if any)/no. of shares. Sale price per share = (Gross proceeds less commission)/no. of shares.
Hope the above clarifies.

I am pleasantly surprised how detailed readers have been. :) and thanks for the feedback.

Just for completeness sake, Saxo is charging 0.15% but they don't amalgamate trades and cannot trade pre-open and pre-close. Standard Chartered Bank has no minimum commission and charges quite a low commission.

Pick one that meets your needs. :)


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Anonymous said…
Be aware that both Saxo and Chartered do not use CDP. They hold the shares for you.
I use Saxo for the sophisticated things you could automate - eg. stop losses, trailing stop losses etc but I don't put all my eggs in one basket.
2 August 2012 at 12:40
Mr. IPO said…
Yep agreed. I like the OCO function on saxo but i have never used the trailing stop. Is it effective? how does it actually work?
2 August 2012 at 16:35
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