My Foodie Box raises $6 million in IPO, plans expansion

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