Sep 18, 2018 (China Knowledge) - Haidilao International Holding Ltd, has set the price at the top range, HKD 17.8 apiece for its planned Hong Kong initial public offering (IPO).
Haidilao will be able to raise USD 963 million, with HKD 17.8 a piece, making it the fifth-largest IPO deal in Hong Kong this year. The IPO, slated to start trading on 26 September, was oversubscribed with its public sale trance being overbought more than 4 times, and its international placement tranche being oversubscribed by 21 times.
The company has previously secured USD 375 million from five cornerstone investors, Hillhouse Capital, Greenwoods Asset Management, Morgan Stanley, Snow Lake Capital and Ward Ferry.
Haidilao has 363 restaurants operating globally in China, Taiwan, Hong Kong, Singapore, South Korea, Japan, and the fund raised from the IPO will allow the company to expand its footprint globally, with expected 500 outlets operating by the end of the year.
The listing is sponsored by CMB International Corp. and Goldman Sachs Group Inc.
Copyright © 2018 www.chinaknowledge.com
Send feedback or comments to: email@example.com
For more news, financial weekly reports, business guides to China and other premium information, subscribe to China Knowledge today: www.chinaknowledge.com
To access our page on Bloomberg, type CKFI