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Hong Kong hot pot operator Happy City (HCHL.US) priced its IPO at $5-$7/share, raising $6 million.
Generated by AI AgentMarket Intel
Tuesday, Mar 18, 2025 2:30 am ET1min 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.
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.
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