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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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Happy 8th Anniversary!



It seemed just a short while ago when i penned this post 12 months ago!

Time really files and i am sad to report that this must be the worst ever IPO drought I have ever experienced other than during GFC... we only had 3 small Catalist listings for the first 6 months this year (versus 10 for the same period last year). 

I spoke to a few bankers doing ECM here this week and they are all looking for new jobs or roles. Mr. Loh Boon Chye, the newly appointed CEO of SGX, has a huge task in front of him to lure listings back to Singapore. Hope the new team can bring forth new ideas to revitalize the market here. I do have a few "suggestions" for him:
  1. Bring back the lunch hour - let the brokers and dealers have a decent lunch so that they can trade better in the afternoon
  2. Increase the brokerage commission - help improve the livelihood of dealers and remisiers and they will take care of you
  3. Increase the bid-ask spread - the market needs volatility to thrive and traders will love you
  4. Get brokerage or insurance firm to bear the credit default risk and not passed those risk to the remisiers who make negligible commission!

Image result for drought

Despite the drought, there is a silver lining!

The only thing positive is my fans (yes you!) grew from 2,706 this time last year to 3,685 today. This is a growth of 36%... ^_^



A big Thank You to all of you and hope the IPO market revives soon!
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Anonymous said…
Thanks for your great info on ipos. I don't like point 2 as it means higher trading cost for average investors like me. :)
8 July 2015 at 08:53
tealeaves said…
Happy 8th Yr Celebs! Weet! U are one of the sites that continue to make a big differences, for the good. I support Points 1 and 4 too. : P May there continue to be many more good yrs with SIPOs :)
8 July 2015 at 10:44
Mr. IPO said…
Thanks for dropping by Frugal Daddy and tea leaves !
8 July 2015 at 12:25
Malcolm Loh said…
what is your take on ix biopharma
11 July 2015 at 14:00
Anonymous said…
Happy 8th anniversary and all your impressive write ups.

I beg to differ relating to the lunch hour issue.

I believe HK has the same system and this could be the reason why Hang Seng is so vibrant and healthy in terms of volume.

Initially, I was also against the no lunch trading for securities houses.
But now I think it helps those who work to have a chance to trade during their lunch break. Many employees have very strict lunch hours and lunch time trading is their only chance to look at the market.

Logical deduction tells us that the additional one and a half hours of trading will concomitantly boost trading volume.
14 July 2015 at 10:37
Mr. IPO said…
Haha sure. But don't think the impact of people trading during lunch hours are significant. :)
14 July 2015 at 21:21
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