Fah Mai Holdings, registered in the UK, US, and Thailand, is seeking IPO investors for a distinctive flotation where the company’s premium whisky collection will be traded on the Nasdaq.
The company, in an email to potential UK investors, mentioned their intent to introduce the “first publicly traded whisky collection with its independent bottling and distribution channels,” aiming for an IPO on January 26, 2024.
The email suggests the raised capital would be used for constructing a distillery. As of now, complete details of the IPO are yet to be released, though inquiries for more information have been made by Proactive.
Established in the UK in June 2017 by director Louis Haseman, Fah Mai had previously merged with US blank check company, Finch Street Acquisition Corp, marking its debut as a US-listed entity.
In documentation provided to the US Securities and Exchange Commission (SEC), Fah Mai identifies as a budding business centered around acquiring, retaining, and selling alternative assets, primarily focusing on rare whiskies and similar commodities predicted to appreciate in worth.
Additionally, the company has plans to launch exclusive member clubs dedicated to rare liquor enthusiasts and affluent individuals. These clubs are envisioned to double as distribution and promotional hubs for asset sales.
An online brochure from Fah Mai elaborates on Mr. Haseman’s journey. He began with a personal collection of rare Scotch, observing its value surge impressively over the past 15 years at an average annual rate of 20-25%. This growth notably surpassed his investments in gold and other benchmarked commodities, steering his focus towards whisky investment on a grander scale.
Through its subsidiary, Platinum Cask Ltd, Fah Mai introduced a whisky investment model termed “cask fractions”. This denotes owning a portion of a cask’s contents. Considering that spirits often evaporate during cask ageing (referred to as the angel’s share), cask fractions ensure investors maintain a consistent percentage of a whisky cask’s contents.
