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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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Trans-China Automotive Holdings Limited - Balloting Results

Trans-China announced that its public tranche was 8x subscribed but on an overall basis, 1.2x subscribed.

The balloting table is presented below and you can see that all investors who applied, received something. Investors who apply for 100,000 shares will receive around 10,000 allocation.



It is good to know that reputable asset managers such as Aberdeen, Templeton and Pheim are participating in this issuance. As such, I would expect the debut to be well supported tomorrow, despite the low subscription rate.



Good luck to those who applied! Vroom vroom!!
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