Food Innovation to raise $3.1m in Catalist IPO

It will list its shares at $0.22 apiece.

Food Innovation Holdings plans to raise $3.1 million in its initial public offering (IPO) on the SGX Catalist.

The company will list its shares on 16 October at $0.22 each.

In its prospectus, the company said the funds will be used to expand its food retail business outside Japan.

Additionally, it plans to acquire the rights to operate themed restaurants featuring popular anime characters and introduce new Japanese food brands to Singapore and Japan.

The company will also the funds for general working capital purposes.

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