Food Innovators Holdings (FIH) has launched its initial public offering (IPO) on the Catalist board of the Singapore Exchange S68 .
The company, which focuses on traditional Japanese and Japanese-inspired European cuisines across Asia, has issued 14 million shares at a price of 22 cents apiece. This includes 1 million invitation shares, which were made available through placement.
Following the close of the group’s IPO at 12pm on Oct 14, the placement shares have since been fully subscribed. Out of the 13.0 million placement shares available, a total of 28 valid applications were received, which includes 47,000 placement shares allotted to Kubota Yasuaki, the CEO of FIH.
The group adds that a total of 264 valid applications were submitted for a total of 6.3 million public offer shares. Based on the 1.0 million public offer shares available for subscription, the public offer was approximately 6.3 times subscribed.
Trading of FIH’s shares is expected to commence at 9.00am on on Oct 16.
PrimePartners Corporate Finance has been appointed as the sponsor, issue manager, underwriter and placement agent of the group for its IPO.
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Yasuaki says: “We are delighted by the confidence showcased by our investors to make this a successful IPO, and we are determined to continue delivering a strong performance through our ongoing strategic initiatives.”
He adds: “The group is well-positioned to capitalise on key market trends by scaling up our food retail business both domestically and internationally, while driving sustainable expansion and enhancing value for our stakeholders.”
