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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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Heads up - Far East Hospitality Trust

Received this email from my OCBC broker yesterday. Need to do some homework this weekend. 

Dear All

We are pleased to announce the Initial Public Offering of Far East Hospitality Trust on SGX-ST (the "IPO").    OCBC Bank is one of the four Joint Bookrunners and Underwriters for the IPO. The other Joint Bookrunners and Underwriters are Goldman Sachs, HSBC and DBS.

Do contact me if you are keen in indicating your interest in the IPO of Far East Hospitality Trust on SGX-ST.

The order books for Far East Hospitality Trust placement tranche are now open. Indicative book closure time/date is 5pm on Tuesday, 14 August 2012 (subject to earlier closure). The final price for this IPO has not been determined but will be within the range of S$0.86 to S$0.93 per stapled security.  We are only taking orders at strike price, ie S$0.93 per stapled security. 

For your information, the 10 cornerstone investors for this IPO are:
-  Aberdeen Asset Management Asia Limited, AIA, APG Strategic Real Estate Pool, Havenport Asset Management Pte. Ltd., Hwang Investment Management Berhad, Indus, JF Asset Management Limited, Lion Global Investors Limited, Myriad Asset Management Limited and NTUC Income Co-operative Limited.

The draft prospectus of Far East H-Trust has been lodged with the MAS, URL as follows:- 
http://masnet.mas.gov.sg/opera/sdrprosp.nsf/e25d3309aa11eacd48256f64000f86d1/D8A63278B2BDF84348257A4F002DF46F/$File/Far%20East%20H-Trust%20%20Preliminary%20Prospectus%20(Main%20Text).pdf

Please see issue statistics as follows:



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Comments

K said…
This comment has been removed by the author.
21 December 2014 at 18:07
K said…
Hi,

I would appreciate if you can comment on why you believe this trust has fallen so much from an IPO of $0.93, high of $1.13 to current price of $0.81. I would like to avoid it the next time. Thanks.
21 December 2014 at 18:08
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