Super Hi International Holding, which operates hot pot restaurants under the Haidilao brand in the international market, raised $53 million by offering 2.7 million ADSs at $19.56, below the as-converted last close of its shares on the Hong Kong Exchange (9658; $21.71).
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.
Super Hi International Holding plans to list on the Nasdaq under the symbol HDL. Morgan Stanley and Huatai Securities acted as joint bookrunners on the deal.
