CMC Infocomm Limited - Balloting Results

Posted by Mr. IPO October 13, 2024

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

CMC Infocomm announced it balloting results this evening where the shares were subscribed by 4.68x.

Public investors who apply for 100,000 shares will have a slightly better than 50% chance and be allotted 7,000 shares. The balloting table is below.

I didn't realize it has one of the largest public tranche this year... must be a brave soul to do that and have to 'credit' them for that. :oP

I can't believe the Sponsor made such a mistake in announcement though. Based on the table below, do you think Kevin Phua applied and was allotted 50,000 or 50,000,000 shares and KCS applied for 2 million or 2 billion shares? so obviously, they should have deleted the '000 at the top of the table (circled in red).

I have to say the market sentiments is horrible right now. Let's see how it performs at debut ^_^

Happy IPOing

Comments

Anonymous said…

It proves that when something is easy to get, better dun get it.. U got 100 lots so easily means danger ...

really underwater now. 22.5 cents.. U losing quite a lot for ur 100 lots.

I cut loss early in the morning at 24.5 cents..

13 August 2015 at 09:13