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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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Singapore IPO Famine?

If i need to make a living out of blogging on companies listing in Singapore, i think i will probably go very hungry...and we are currently experiencing a famine here! 

It is amazing why companies are not rushing out to launch their IPOs since this is such a golden window. Probably they can get their companies out at higher valuations and the share price can be sustained post listing. If you look at the pipeline, there is absolutely "nothing in sight" except for a Indian business trust called Global Telecommunications Infrastructure Trust. 

Pipeline

For readers who want to know how to find out where the pipeline is, you can visit the MAS Opera website.



While Singapore is currently experiencing a famine, our nearby neighbor is having the whale of its time. You can access the Malaysia's IPO exposure here (which is somewhat like our MAS Opera). 



The upcoming Astro IPO comes right after two mega IPOs this year, IHH Berhad and Felda Global Ventures.

These IPOs were only outdone by Facebook and Japan Airlines! Amazing year for Malaysia. Perhaps Mr. IPO should consider expanding out of Singapore and start a new blog for companies listing in South East Asia, then HK & Asia, then Europe then USA. (stop dreaming please...)

How does my proposal sound? Any interested investors? My blog will file for IPO when it expands all the way to USA. :-P

Happy IPOing.

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Comments

Anonymous said…
Hi Mr IPO. Good idea on starting coverage of Malaysia. Would be good given proximity, how they are issuing so many large IPOs and also as a comparison to SG IPOs. Would definitely be worth a follow. Thanks.
9 October 2012 at 21:45
Mr. IPO said…
Haha ok will consider but no "vested" interest make it very boring for me. I like to put $ where my mouth is and I don't know how to participate in the IPOs in Malaysia.
9 October 2012 at 21:57
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