Hong Kong hot pot operator Happy City (HCHL.US) priced its IPO at $5-$7/share, raising $6 million.
1min read Happy City Holdings Limited, a Hong Kong-based company that operates three self-service hot pot restaurants under the "Thai Pot" and "Gyu!Gyu!Shabu Shabu" brands, filed a preliminary prospectus with the U.S. Securities and Exchange Commission on Monday to raise up to $6 million in an initial public offering.
The company plans to issue 1 million shares at a price range of $5 to $7 per share, raising $6 million. At the midpoint of the proposed range, Happy City Holdings Limited would be valued at $114 million.
The company generated revenue of HK$8.295 million in the year ended August 31, 2024, up 22.8% year-on-year.
Ask Aime: What is the IPO of Happy City Holdings Limited, and will it be successful?
Happy City Holdings Limited plans to list on the Nasdaq under the ticker symbol HCHL. Pacific Century Securities is the sole bookrunner for the transaction.
