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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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Soilbuild REIT - balloting results

Soilbuild REIT's IPO public offer of 62.5m was 5.4x subscribed and the over-allotment was exercised. The announcement is here.

The balloting table is as follows:

Investors who applied will have a more than 50% chance of being alloted and those who applied for 100 lots will have a 60% chance of getting 36 lots.

I didn't apply for the public tranche, as mentioned earlier but have about 12 lots from placement tranche. Think the debut will be muted with slight downside bias (gut feel).

Happy IPOing.


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Anonymous said…
Won't be surprised it would trade below offer price on day 1, sponsor lacks commitment by not participating. Limited acquisition prospect in future as Soilbuild has failed in all the JTC land sales tender this year. Business park islandwide vacancy is about 20% so the REIT is just an exit plan for the sponsor!
15 August 2013 at 22:56
Anonymous said…
All REITs are exit plans for sponsor. Its only how much meat they are prepared to let others share ....

Santa Clause does not exist in the real world .....
16 August 2013 at 06:27
Mr. IPO said…
That is why alignment of interest is important. In SPH REIT case it is probably more aligned than in Soilbuild REIT case.
16 August 2013 at 06:48
Anonymous said…
Mr. IPO,
It is always interesting when you share how many lots you and wifey are allotted.
We can then share your joy and hopefully not sorrow with you.

You sure deserve the fruits of your labour be it through placement, tikam or even more viewers to your web site.

Thanks for being so magnanimous in sharing with us what you know.
16 August 2013 at 08:48
Mr. IPO said…
My pleasure. :) happy to be of a little help.
16 August 2013 at 09:41
Anonymous said…
HI
R u holding to your allotment for dividend, long term ????
Or what price you intend to exit ?
16 August 2013 at 14:33
Anonymous said…
No cornerstone investors = no stabilising manager
16 August 2013 at 14:56
Anonymous said…
Happy to have picked up some at 72c, which should translate into a projected distribution yield of 8% to cushion against any downside
16 August 2013 at 15:10
steve said…
This is the perfect place for targeted audience and the investors it will give more profit.

ISO 2338| ISO 2341 | DIN 1444v
17 August 2013 at 20:07
Anonymous said…


re : Anonymous @15 August 2013 22:56 said...

Business park islandwide vacancy is about 20% so the REIT is just an exit plan for the sponsor!


======================


Thank you for your comment. I like to hear all the bad news as well.

Others may not like to hear the bad news.

But I definitely want to hear the bad news as well as the "good" news.

Otherwise, how to arrive at some judgement regards the price?


Keep any bad news coming; please don't hold back just because of "negative" reactions from others.








18 August 2013 at 03:14
Anonymous said…
Anonymous said...
HI
R u holding to your allotment for dividend, long term ????
Or what price you intend to exit ?

16 August 2013 14:33

Hi Mr IPO,
Mind to respond to this ? I always admire and appreciate your very prompt reply.Thanks
19 August 2013 at 09:56
Mr. IPO said…
Sorry did see your msg. I already cut loss on the first day at around 75
19 August 2013 at 10:03
Anonymous said…
Many thanks for responding. I didn't expect you to sell at a loss as I believe strongly that you have the holding power to keep for long term.
19 August 2013 at 10:13
Mr. IPO said…
Haha sometimes I don't know what "value" you get from knowing what I do though. I do have the holding power but it doesn't mean I want to hold them. We all have different strategies :)
19 August 2013 at 10:43
Anonymous said…
Mostly short sellers and house traders at work driving down prices, not so much of a market sentiment
19 August 2013 at 11:45
Anonymous said…
Soilbuild construction and Soilbuild REIT has both been placed on DBS Vickers margin restricted list, house limit has reached..
24 August 2013 at 15:02
Anonymous said…



re comment : 19 August 2013 11:45

Mostly short sellers and house traders at work driving down prices, not so much of a market sentiment.

====


Where else should I look to establish this "market sentiment"?



25 August 2013 at 21:04
Anonymous said…




Mr. IPO said... @ 19 August 2013 10:43

I do have the holding power but it doesn't mean I want to hold them.


====

Yes, true.


besides, if you don't hold them at least for now, your implied buying ability goes up.

In the sense can buy more shares for the same amount of money.





25 August 2013 at 21:08
Anonymous said…
Anonymous 7 posted comments on 18 and 25 August, right?
31 August 2013 at 00:23
Rahul kapoor said…
This comment has been removed by the author.
1 October 2013 at 23:22
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