Asian Healthcare Specialists Limited

Posted by Mr. IPO October 13, 2024

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

Asian Healthcare Specialists ("AHS" or the "Company") announced that its has completed the placement of 46.9m shares to 337 placees.

10% of the placement shares went to the Ho Bee Land's boss, Mr. Chua Thian Poh. Given the small issuance size and placement, my view is that the debut of the shares will be well supported.

I had given it a 3 chilli rating here.

“ We are encouraged by the strong investor support in the IPO, which reflects confidence in AHS’s track record and growth prospects. We believe that a listing on Catalist will allow us to access the capital markets to expand our business locally and regionally, as well as grow our talent pool to continue building our brand name. This indeed marks a major milestone for us as we work towards our goal of giving movement, quality and life to years ” - Dr Chin Pak Lin, Executive Chairman and CEO of AHS.

119 of the readers participated in the poll to guess the opening price and 30% guess it will open below 30 cents and 50% guessed it will be above 30c, with the 20% don't giving it a hoot.