Haidilao: Is hot pot giant's $963m IPO target too spicy?

China’s largest hot pot chain puts forward an implied valuation nearly five times that of McDonald’s China and Hong Kong business. It may prove too much for investors to stomach.

Haidilao: Is hot pot giant's $963m IPO target too spicy?

Chinese hot pot chain Haidilao is hoping an ambitious expansion plan will whet the appetite of investors as it begins serving up its HK$6.3 billion to HK$7.6 billion $801 million to $963 million  Hong Kong IPO.

The chain, set to list under the name of Haidilao International, started serving institutional investors on Monday, offering 424.5 million shares 8% of its enlarged share capital on a pre-greenshoe basis at an indicative...

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