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在线翻译:
szdaily -> Markets -> 
Haidilao seeks approval for US$1b listing
    2018-08-20  08:53    Shenzhen Daily

HAIDILAO International Holding Ltd., China’s biggest hot pot restaurant chain, plans to seek approval next week for a Hong Kong initial public offering (IPO) that could raise as much as US$1 billion, sources with knowledge of the matter said.

The Beijing-based company met the Hong Kong stock exchange’s listing committee Thursday, the sources said.

CMB International Capital Ltd. and Goldman Sachs Group Inc. are joint sponsors of the offering, according to a May preliminary prospectus, which didn’t specify the fundraising target.

A US$1 billion deal would be the largest consumer IPO this year in Hong Kong, which has been focused on transforming itself into a hub for fundraising by new economy companies.

Many of the year’s hotly anticipated technology and biotech listings are trading below their offer prices, with Xiaomi Corp. falling about 4 percent since it began trading last month.

Haidilao is known for its spicy broths and attentive customer service, which includes giving customers free manicures, shoulder massages and dance performances.

Billionaire founder Zhang Yong, a former factory worker, said in an interview last year he started the restaurant chain after a less than satisfying dining experience in southwestern China’s Sichuan Province.

The firm now serves more than 100 million guests a year, according to its preliminary prospectus. It ranks as China’s largest hotpot restaurant chain by revenue, with a 2.2 percent market share in 2017, according to a Frost & Sullivan report cited in the filing.

Proceeds from the offering could help fuel the company’s expansion plan, which includes opening as many as 220 new restaurants this year, the prospectus shows. (SD-Agencies)

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