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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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iFAST Corporation - Balloting Results

iFAST Corporation announced a strong set of IPO subscription results where the shares were 12.4x subscribed. The over-allotment option was exercised and in this regard, an additional 3.28m shares were issued. This will be used to support the share price should it decline below the IPO price on debut.

Public Allocation


Public investors who applied for 100 lots will have a 40% chance and get 11 lots.


It is interesting to note that the directors came out in full force to support the IPO and that 3 other reputable investors subscribed for more than 5% of the IPO tranche. It's a pity they didn't disclose the number of shares alloted to them.

Overall, i am surprised by the strong subscription results and the CEO attributed to strong support by institutional investors, especially those from London.

 

Let's see if the IPO will perform to expectations tomorrow. 

Happy iFASTing


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Anonymous said…
Reach 1.01.
11 December 2014 at 10:26
K said…
Hi.. where is the quickest place online to see the ipo ballot results?

Thanks
11 December 2014 at 16:29
Anonymous said…
Noluck! Ask 5 got 0
12 December 2014 at 16:44
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