China's Haidilao plans $302 mln share sale for credit facilities repayment

Haidilao International Holding

12/11/2021 24:43

HONG KONG, Nov 12 (Reuters) - Restaurant chain Haidilao
International Holding Ltd  6862.HK  plans to sell HK$2.35
billion ($301.6 million) of new shares in a top-up placing,
raising capital for repayment of credit facilities and to
enhance supply chain management and product development. 
    The Chinese hot pot chain operator plans to sell 115 million
new shares to major shareholder, SP NP Ltd, at HK$20.43 apiece,
or at 7.97% discount to Thursday's close of HK$22.20 each, it
said in a filing to the Hong Kong bourse early on Friday.    
    The major shareholder will buy the new shares on completion
of sales of the same amount of existing shares at the same price
to third investors. Proceeds will also be used for working
capital and general corporate purposes.
    Shares of Haidilao have fallen 62.8% this year as of the
last close on Thursday.
    ($1 = 7.7917 Hong Kong dollars)

 (Reporting by Donny Kwok; Editing by Jacqueline Wong)
 ((donny.kwok@thomsonreuters.com; +852 3462 7745;))