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IPO Chilli Ratings

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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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Manulife REIT - Balloting Results


Manulife announced that its public offering was 1.6x subscribed. Given that this is a big size offering, it was not difficult to get some via the public tranche. The balloting ratio are as follows:


Investors who applied for 50,000 shares will get a 38:50 chance and will be alloted in full. 


The list of placement shareholders have some interesting names like Dymon Asoa and SeaTown. Let's see if it has any impact on share price performance tomorrow. 

Best wishes to those who got some shares. ^_^

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