Happy City Holdings, which operates a chain of hot pot restaurants in Hong Kong, filed on Monday with the SEC to raise up to $6 million in an initial public offering.
The Singapore-based company plans to raise $6 million by offering 1 million shares at a price range of $5 to $7. At the midpoint of the proposed range, Happy City Holdings would command a market value of $114 million.
Happy City Holdings operates three all-you-can-eat hotspot restaurants in Hong Kong, which specialize in Thai and Japanese-style hot pot. The company's restaurants are located in Tsuen Wan, Mong Kok, and North Point. Its menu includes a variety of meat, seafood, vegetables, and noodle options, and it offers customers a range of set time limits for dining.
The Singapore-based company was founded in 2019 and plans to list on the Nasdaq under the symbol HCHL. Happy City Holdings filed confidentially on December 3, 2024. Pacific Century Securities is the sole bookrunner on the deal.
