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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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Cromwell European REIT - Balloting Resultsb



Cromwell European REIT ("CEREIT" or "Crownwell") announced that its public offering was 3.1x subscribed. The over-allotment option was exercised as well.


Investors who applied for 100,000 shares has a 60% of being allotted 63,000 units. I didn't apply for the Cromwell Shares. 

Good luck to those who were allotted some shares. The weakness in Euro against SGD may result in some weakness on debut given the exchange rate that was fixed for the IPO was $1.6091. 


Happy Cromwelling...


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