China’s Hotpot Chain Haidilao Seeks $963M In Hong Kong IPO

Haidilao International Holding Ltd., China’s biggest hot pot restaurant chain, is seeking to raise up to US$963 million in an initial public offering (IPO) in Hong Kong. The Beijing-based firm is offering 424.5 million shares at HK$14.80 (US$1.88) to HK$17.80 (US$2.27) apiece, according to terms of the deal obtained by Bloomberg. The five cornerstone investors including Chinese investment firm Hillhouse Capital Group and Morgan Stanley have agreed to buy a combined US$375 million of stock in the offering, it said. …

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