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Haidilao eyes global growth after positive US debut
The Straits Times
|May 23, 2024
Super Hi International Holding, the international operator of China's popular hot-pot chain Haidilao, is planning to boost its international footprint following a listing in the United States that has been well received.
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The company's American depositary shares are up 7.4 per cent after three sessions in New York, versus a 3.5 per cent drop during the same period of an index tracking Chinese shares listed on the Nasdaq.
Some 70 per cent of net proceeds from the US$53 million (S$71.4 million) initial public offering (IPO) will be tagged to strengthen the company's brand and expand its network globally, according to the prospectus. The listing in the US gives Super Hi access to a deeper pool of investors, improves liquidity and makes it easier to raise funds abroad in the future.
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