Super Hi International Holding, which operates hot pot restaurants under the Haidilao brand in the international market, filed on Friday with the SEC to raise up to $100 million in an initial public offering. Super Hi is currently listed on the Hong Kong Exchange under the stock code "9658."
Spun out of Hong Kong-listed restaurant brand Haidilao at the end of 2022, Super Hi operates hot pot restaurants under its former parent's brand in the international market. Since opening its first restaurant in Singapore in 2012, Super Hi has expanded to 115 self-operated restaurants in 12 countries across four continents as of December 31, 2023.
The Singapore-based company was founded in 1994 and booked $686 million in revenue for the 12 months ended December 31, 2023. It plans to list on the Nasdaq under the symbol HDL. Super Hi International Holding filed confidentially on December 15, 2023. Morgan Stanley and Huatai Securities are the joint bookrunners on the deal. No pricing terms were disclosed.
