Tam Jai International IPO - Favourable risk to reward at low end

Tam Jai International is looking to raise up to US$179m in its Hong Kong IPO. Tam Jai International is a restaurant chain operator of the TamJai and SamGor branded fast casual restaurant chain in Hong Kong with operations also in Mainland China and Singapore. As of the latest practicable date (13th September 2021), the firm operated a total of 156 restaurants, comprising 79 TamJai restaurants and 77 SamGor restaurants, of which 150 were located in Hong Kong, three in Mainland China and the re...