Happy City IPO Prices at $5, Raises $6M on Nasdaq

Happy City, a prominent hotpot restaurant operator, has priced its initial public offering (IPO) at $5 per share, marking its debut on the Nasdaq exchange tonight. The company will issue 1.1 million shares, raising $6 million, which is $1 million more than initially anticipated. The stock is expected to commence trading on June 24 under the ticker symbol "HCHL."

Happy City operates three all-you-can-eat restaurants specializing in Thai and Japanese hotpot cuisine. These establishments are located in Tsuen Wan in the New Territories, Mong Kok in Kowloon, and another location in the region. The menu features a variety of meats, seafood, vegetables, and noodles, with a range of dining time restrictions for customers.

The IPO represents a significant milestone for Happy City, as it seeks to expand its presence and capitalize on the growing demand for hotpot dining experiences. The company's decision to list on the Nasdaq underscores its ambition to attract international investors and gain access to global capital markets. With its unique offerings and strategic locations, Happy City aims to continue its growth trajectory and solidify its position in the competitive food and beverage industry.

Dominari Securities, Revere Securities, and Pacific Century Securities are serving as the joint book-running managers for the IPO. This strategic move is expected to provide Happy City with the necessary financial backing to fuel its expansion plans and enhance its market presence. The successful completion of the IPO will enable the company to leverage its strong brand and innovative dining concepts to attract a broader customer base and drive sustainable growth.