In its first trading session on the Nasdaq, Chinese hot pot restaurant chain Super Hi International was valued at over 1.7 billion USD. The company saw its shares increase by 38% on May 17, leading to a market valuation of 1.74 billion USD. Super Hi International, which operates the Haidilao hot pot restaurant chain, raised 52.7 million USD in its IPO by selling nearly 2.7 million shares in the US.
Founded in 1994 by Zhang Yong and friends, Haidilao started as a small restaurant in Sichuan, China, and has now become one of the most famous Chinese restaurant brands globally. Known for its spicy dishes, Haidilao made history by changing the landscape of Chinese cuisine. It was listed on the Hong Kong stock exchange in 2018 and is currently the third largest Chinese restaurant brand in terms of revenue according to a report filed with the US Securities Commission.
Super Hi International has been managing Haidilao’s operations outside China since 2012 under the parent company Haidilao International. The company plans to separate and list on the Hong Kong exchange by the end of 2022. Haidilao has expanded to 115 locations in 12 countries since opening its first restaurant in Singapore in 2012.
The successful IPO of Super Hi International indicates a revitalized US IPO market, with both American and foreign companies opting to list in the US. Investors are hopeful for more new listings on the US stock exchange this year, especially with the expected reduction in interest rates by the US Federal Reserve in the second half of the year. Lower interest rates are predicted to boost businesses’ motivation for IPOs.
In conclusion, Super Hi International’s successful IPO marks a significant milestone for both Chinese cuisine and international investment opportunities on Nasdaq. With more foreign companies considering listing their shares on American exchanges like Nasdaq, it’s clear that there is an increasing demand for global investment opportunities.
Furthermore, investors are optimistic about more new listings on US stock exchanges this year as lower interest rates are expected to motivate businesses to go public.
Overall, Super Hi International’s IPO highlights how international markets continue to intertwine as companies seek out new growth opportunities around the world.
As Zhang Yong and his team celebrate their successes at Haidilao Hot Pot Restaurant Chain’s expansion into international markets through Super Hi International’s successful IPO on Nasdaq they look forward to what lies ahead for their brand and their business ventures globally.
