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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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IPO Tikams for 2022 & Welcome 2023!

I recently shared an article in the Straits Times that was published on 22 Dec 2022 and the title was "Tough year for S'pore IPO market with 11 listings, 32 delistings so far, and more challenges ahead." and basically, it was a "eat grass" year.

So the 11 listings sourced from Shareinvestor.com are as follows:

11 listings in 2022 (from Shareinvestor.com)

As you can see from the table above, it is impossible to make any good money flipping IPOs as out of the 11 IPOs, only 6 were made available to the public and most of them went below the IPO price. As of today, only LMS Compliance is slightly above the IPO price, with the remaining 10 underwater. Sigh!

I will continue my tradition of sharing my IPO tikams and surprisingly it is better than 2019. I made $6,062 from IPOs in 2022 from the placement tranche from only two counters - LHN logistics ($501) and Oiltek ($5,561) and that is when I "run road" pretty fast, otherwise I will be quite black eyed by now.

I have also decided to remove the gains from one HK IPO in 2021 for better comparison since this is about Singapore IPOs, so here you go, the IPO tikams for 2022.

IPO Tikams (Historically)

I take this opportunity to wish Singapore IPOs readers a Happy New Year! Hope 2023 will see a more fruitful year even though rabbits like to eat grass too....  



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