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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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Hyflux 6% p.a. Perpetual Capital Securities - Balloting Results

Hyflux announced that its public offering of Perps were oversubscribed by around 3x and as a result, the overall offering was upsized the tranche to $500m. All investors who applied will receive something. The Perps will start trading on 30 May 2016 at 9am.

Ms Olivia Lum (林爱莲), Executive Chairman and Group CEO of Hyflux, said, "We would like to thank investors for the enthusiastic subscription for the Offer, and thereby believing and participating in our growth as we continue to execute our strategies and strengthen our global leadership position in providing sustainable solutions in the areas of water and energy." 

The balloting ratio is as follows:

 
Not sure if it is a good thing to issue such a large tranche. The effect is that everyone is allocated and that Hyflux has raised sufficient funds to redeem the prior Perps (see announcement below). Let's see how the Perps perform on Monday ^_^


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Rolf Suey said…
just heard from a seminar that Huflux was just in Iran together with Singapore delegation.

Kim Heng just announced partnership with Iran. I guess Iran is a country of potential opportunity for Hyflux and Singapore after sanctions lifted.
27 May 2016 at 00:13
Mr. IPO said…
A land of opportunity and risk too... ^o^
27 May 2016 at 00:59
foolish chameleon said…
hyflux has been known to venture where no one dares to go.
algeria , oman, etc now iran...
i know coz i worked there
personally i think iran is good place for coy to venture.
fortune favours the brave
27 May 2016 at 08:39
Anonymous said…
Just wonder how they are going to repay such a high interest? Someone may enlighten me.
Q1: If they are so profitable why can't they use the earnings to repay the 3.5% outstanding notes issued on 3rd July 2008 and also 4.8% outstanding perpetual cost?
Q2: Since 2008 the interest for debts raised was 3.5%, 4.8% and now 6%? Isn't the interest repayments ballooning?
27 May 2016 at 09:02
Anonymous said…
Some projects are design, build, own and operate and hence will require huge initial capital. The company will only be able to reap the full benefits in the later years.
27 May 2016 at 21:46
Anonymous said…
Mr ipo,

Will you be writing on the ipo of Fraser? Looking forward to read them.
6 June 2016 at 22:50
Wintermelon said…
Very interested in the ipo analysis of Freaser Logistics trust also.. Since next Thursday noon is the deadline
12 June 2016 at 18:30
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