The Chinese hot food restaurant chain, Super Hi International, has been valued at over 1.7 billion USD after its first trading session on Nasdaq in the US. The company saw its stock rise by 38% on May 17, giving it a market value of $1.74 billion.

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 and Exchange Commission.

Super Hi International has been managing Haidilao’s business outside of China since 2012 under the parent company Haidilao International. The company plans to spin off and list on the Hong Kong stock 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 points to a revitalized US IPO market, with both US and foreign companies choosing to list in the US. Investors are hoping for more new listings on the US stock market this year, especially with the expected rate cut by the US Federal Reserve in the second half of the year. Lower interest rates are predicted to increase companies’ motivation for IPOs.

By Samantha Johnson

As a dedicated content writer at newspuk.com, I immerse myself in the art of storytelling through words. With a keen eye for detail and a passion for crafting engaging narratives, I strive to captivate our audience with each piece I create. Whether I'm covering breaking news, delving into feature articles, or exploring thought-provoking editorials, my goal remains constant: to inform, entertain, and inspire through the power of writing. Join me on this journalistic journey as we navigate through the ever-evolving media landscape together.

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