Dear readers, Food Innovator Holdings IPO is now open for subscription. The IPO offer comes after my recent sharing of 3 upcoming potential listings on Singapore’s Catalist.
Food Innovator Holdings IPO will be closely watched as the IPO is just the second IPO on Singapore stocks markets year-to-date this year. The IPO will not be just closely watched but also welcome given the IPO drought in Singapore year-to-date.
The first IPO on Singapore stocks markets this year was Singapore Institute of Advanced Medicine (SAM) whose offer price was $0.23. At this time of writing, SAM’s stock price is $0.084, which translates into a 63.5% discount off the IPO price. Food Innovator Holdings (FIH) IPO will hence be also closely watched on its performance post-debut on the Singapore stocks markets. FIH’s IPO offer price is $0.22 a share which is similar to SAM but definitely FIH’s business is in a different industry from SAM’s. FIH is in the business of food, which seems to be an industry that is of interest to Singaporeans.
Specifically, FIH business and IPO details are as follows:
IPO price on offer: 22 cents per share
IPO close: 14 Oct 2024 noon
Expected trading: 16 Oct 2024
target to raise $3.1 million through Singapore’s Catalist listing
14 million shares on offer: 13 million placement shares and only 1 million shares for public subscription
if all shares are fully subscribed, FIH will have a market capitalisation of $24.9 million
10 outlets in Singapore: tempura rice bowl restaurant Tendon Kohaku, unagi eatery Man Man, Japanese skewers bar Yatagarasu, Hokkaido barbecue joint The Hitsuji Club and beef grill The Ushi Club.
4 restaurants, a bakery cafe and a central kitchen in Malaysia
12 restaurants in Japan
Holds the Moomin brand licence in Japan. To be honest, I do not know what is “Moomin” and I researched online and this is what I have learnt of the Moomin character.
I believe interested applicants of FIH IPO will likely tend to look at a current stock which is similar to FIH’s business: Japan Foods Holding. The Japanese franchise restaurant brands under Japan Food Holdings include Ajisen Ramen brand, Botejyu, Botejyu San, Hanamidori, Kazokutei, Menya Musashi, Keika Ramen, Menzo Butao, New ManLee Bak Kut The, Yonehachi and Osaka Ohsho brands.
Japan Foods Holdings listed on Singapore’s Catalist in 2009 and the stock currently trades at 34 cents which is 14 cents above its IPO price of $0.20.
Every time when it comes to an IPO on Singapore stocks markets, I believe some will apply for the IPO based on a “jackpot” mentality. If the investors are successfully allotted the IPO stock and the stock performs above IPO, these investors will quickly sell the stock away for a quick profit.
I am not interested in Singapore IPOs in general and hence will not apply for FIH IPO. Even if I am interested in the IPO, I would think that the food industry scene in Singapore is very competitive. In the current higher cost climate, individuals and families will also go for the cheaper food options in general rather than splurging on high-end food.
Notwithstanding my comments, I would think there could still be likelihood of FIH doing well as Japanese food is still a favorite here in Singapore and if there is a strong following for Moomin: let us watch a video of Moomin below!