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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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Netlink NBN Trust (Update)



I have previously written a post on Netlink NBN Trust over the weekend. This is the updated post based on its registered prospectus and i will just highlight some of the updates made but the primary analysis and chilli ratings remained unchanged. You can find the prospectus here.



The final pricing is fixed at $0.81 and the offer will end on 17 July 2017 at 12pm and starts trading on 19 July 2017 at 3pm. ðŸ¤” Why 3pm..... did they consult a fengshui master or are they trying to limit first day selling?? There will be 185m shares for the public and the balance 2,713m shares will be done via placement. The Manager also has an over-allotment option of another 123.456m units. The market cap will be S$3,129.8m assuming the over-allotment is not exercised.


Shareholding

Assuming the over-allotment is exercised, then shareholding held by Singtel will fall from 24.99% to 24.23%


Growth Prospects


The final prospectus seemed to tell the story of "growth better" as it showed the possible growth from a study by MPA in the different business segments.

My Chilli Ratings

Remained unchanged at one chilli. Apply only if you like it. There are 185m shares on public offer (similar to HPT), so you should be able to apply and get some shares from the ATM.

Polling (as of 10 July 2017 11pm)

Click me to vote!

As of 10 July 2017, 545 have voted and 46% of you have voted "Yes". Please feel free to vote if you have not already done so.

Happy Netlinking! ðŸ˜€


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Anonymous said…
the earlier part it should be 185m shares for public and not 185
cheers
10 July 2017 at 23:38
Mr. IPO said…
Tks. Amended 😊
11 July 2017 at 09:07
Anonymous said…
hey mr ipo, do you think it's worth getting 5000 units? how much should i ballot to perhaps get that amount?
11 July 2017 at 12:14
Mr. IPO said…
Well, assuming you are happy with the yield, I think you should ballot for what you are ready to buy and in the event you are under-allocated, you can buy it from the open market. However if you want to force me to make a guess - I think applying for 10,000 shares would be fine as long as you are prepared to hold the 10,000 shares and bet that your allocation will be cut by 30-50%.
11 July 2017 at 12:21
Unknown said…
Hi Mr IPO,
Have applied for the ipo.. but by mistake entered less amount.. can again apply.. will the first application get cancelled ? Or entite application will be rejected ? Or changes are for 2nd application ? .
Any insight on this will be very helpfull.
14 July 2017 at 08:00
Mr. IPO said…
Think you would need to cancel and reapply. Otherwise both applications will be invalid.
14 July 2017 at 08:36
Unknown said…
Hi mr ipo what will be your gut feeling of opening price?
16 July 2017 at 08:28
Unknown said…
Hi mr ipo what will be your gut feeling of opening price?
16 July 2017 at 08:31
Anonymous said…
Hi pls advise your gut feeling on opening price ▪▪thanks
16 July 2017 at 08:33
Mr. IPO said…
Hahaha not sure why so many people asking about the opening price (or same person). Opening price is not important unless you are punting which this counter is not "suited" for. 🤣 My gut feel is open around 81-82. Close around 80-81.
16 July 2017 at 09:17
Unknown said…
I've applied for 20 lots, only got 6.
Have a feeling it will pop tmr.
18 July 2017 at 13:09
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