Haidilao cooks up $963m with hot Hong Kong IPO

Hot Pot 230x150
By Jonathan Breen
20 Sep 2018

Chinese hotpot chain Haidilao International Holding pulled off top-end pricing for its HK$7.56bn ($963.3m) Hong Kong IPO this week, wooing institutions with its unique story. But the lukewarm response from retail investors is being viewed as a blessing in disguise for allocations — and hopefully for the stock’s aftermarket performance. Jonathan Breen reports.

Haidilao kicked off its IPO on September 10 through sponsors CMB International and Goldman Sachs. The float comprised 424.5m primary shares, which were up for grabs at HK$14.8 to HK$17.8 apiece, giving the float a size of HK$6.28bn to HK$7.56bn.

From the beginning, the issuer was confident of ...

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