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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 ...
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Shopper360 - Placement Results

Shopper360 Limited ("Shopper360" or the "Company") announced that is IPO attracted strong interest from institutional investors. There is no public offering (which is why it can't get the highest rating from me).

Ms Chew elaborated, "As a listed company, we are now in a better position to fortify our market position and stay ahead of the competition. The increasing importance for shopper engagement and experience, bolstered by a proliferation of brick-and-mortar retail stores, bode well for us, as the synergistic nature of our business segments enables us to provide integrated solutions to our customers at every touch point – from pre-store, in-store to post-store. We also have a strong pipeline to introduce new innovative mediums to our existing suite of services, and are well-placed to capture opportunities in the digital economy."

The shares were placed out to an interesting list of investors, including Asdew (Alan Wang), Island Asset Management and BTS Group. Interesting to see a Thai public listed company venturing into this space, hopefully it is for strategic reasons lol. I am sure many of you have taken BTS before while in Bangkok.

 

Good luck to those who managed to get some placement shares.

Happy shopping.
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