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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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SLB Development Ltd - Balloting Results

SLB Development ("SLB" or the "Company") announced that its public tranche of 8m shares was 20.6x subscribed. Combining with the placement tranche of 238m shares, the overall IPO was 1.7x subscribed.

Commenting on the robust investor demand, Mr Matthew Ong, Executive Director and CEO of SLB, said, "The positive demand from both retail and institutional investors clearly shows the confidence in SLB's business model and growth potential. This is just the beginning and with a view to pursuing opportunities in Singapore and abroad, we are excited to bring SLB to the next level of growth."

The public offering balloting table is below:


Investors who applied for 10,000 to 49,000 shares will have a 52.5% chance of being allotted 5,000 shares.


With regards to the placement tranche, 6 investors (i lumpted ICH and Mr Toe as one) were allotted a total of 91m shares (~38% of the issuance). The names comprises some known names in the property circle such as Simon Cheong of SC Global, Low See Ching of Oxley, Teo Kee Bock from Super Group, Lin Yu Cheng from United Enivrotech,  as well as the former "S-Chip" kingpin, Han Seng Juan of Centurion and Toe Teow Heng from ICH Group.

I hope these "towkays" will help support the debut... 

Happy SLBing!
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