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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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Sheffield Green Ltd - Balloting Results

Sheffield Green announced that it attracted "strong" interest from both placement and retail investors. I am sure both Niks and Sheffiled use the same dictionary for the definition of "strong".

Anyway, the public offer was 1.4x subscribed (not "oversubscribed as indicated in the press release). 



Fingers crossed on how this IPO will perform tomorrow. 

Given how Niks performed on Friday, it will take a miracle for Sheffield to open above water tomorrow and given how likely it will debut below water, I will declare that our Singapore IPO window is dead (again).

Back to grass eating time and I have dutifully performed my national service as well. ðŸ¤•



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