My Foodie Box raises $6 million in IPO, plans expansion
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Food production company My Foodie Box, is hungry for ASX funds. Brian Hughes, chair Pitcher Partners, with his wife, seek to take their fresh food box business to Australian investors through an AU$6 million IPO. The retail offer for IPO is still open and the proposed MBX shares will be available for trading on ASX from 7 January 2021.
What is My Foodie Box’s business?
- Based out of Perth My Foodie Box sources local ingredients to prepare and deliver quality food.
- The Company wants to be a business supporting local community by only sourcing WA fresh produce.
- My Foodie Box is currently running its retail offer for initial public offering (IPO) which will close on 21 December 2021.
- It is to list on the ASX on 7 January 2021 and seeks to raise AU$6 million from its IPO closing today.
How to invest in My Foodie Box shares?
- Since retail offer is still going on, registering with a participating broker or lead manager is essential to be able to invest in the IPO.
- Its IPO is being managed by lead manager Kaai Capital and Prenzler Group (JLMs), who wanted to raise AU$6,000,000 at AU$0.20 per share.
- If unable to invest in the IPO’s retail offer investors can buy shares from ASX post 7 January 2021, when publicly available.
- My Foodie Box shares can give investors an exposure to food industry which is mostly buoyant to market movements, being an essential.
- However, before buying in, investors must prudently study My Foodie Box IPO prospectus and other media reports carefully to get deeper insights on its business.
Food is essential and farm fresh, good quality food getting delivered at home is at present highly in demand. So, investors may choose to invest in such a business with MBX shares. However, how well My Foodie Box uses funds r
Questions & Answers
Q.What is My Foodie Box's core business model?
What is My Foodie Box's core business model?
My Foodie Box sources local ingredients, specifically WA fresh produce, to prepare and deliver quality food. The company aims to support the local community by exclusively using produce from Western Australia.
Q.When is My Foodie Box expected to list and begin trading on the ASX?
When is My Foodie Box expected to list and begin trading on the ASX?
My Foodie Box is scheduled to list on the ASX on 7 January 2021. Shares will become publicly available for trading on the Australian Securities Exchange from this date onwards.
Q.How much capital did My Foodie Box aim to raise through its IPO, and at what share price?
How much capital did My Foodie Box aim to raise through its IPO, and at what share price?
My Foodie Box sought to raise AU$6 million through its initial public offering. The shares were offered at a price of AU$0.20 each during the IPO process.
Q.Who are the lead managers handling My Foodie Box's initial public offering?
Who are the lead managers handling My Foodie Box's initial public offering?
The IPO for My Foodie Box is being managed by Kaai Capital, which serves as the lead manager. Prenzler Group also acted as joint lead managers for the offering.
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