Haidilao restaurant operator Super Hi at 13-month peak on US dual listing plan

Haidilao International Holding

14/05/2024 03:59

** Shares of Singapore-based restaurant chain operator Super
Hi International  9658.HK  jump 8.2% to HK$18.04, their highest
since April 2023 
    ** Stock on track for a second session of gains, if current
trend holds
    ** Super Hi, which operates Chinese hotpot restaurant chain
Haidilao outside China, said on Monday it was targeting a
valuation of $1.38 bln in its dual listing in the United States
to broaden its shareholder base and raise additional capital
    ** Super Hi, which launched its restaurant business
operations outside Greater China in 2012 through its then-parent
company Haidilao International  6862.HK , was spun-off and
listed as a public company in Hong Kong at the end of 2022
    ** Shares of Haidilao rise 2.5% to HK$20.55, their highest
since Oct 16
    ** Hang Seng Commerce & Industry Index  .HSNC  climbs 0.8%,
Hang Seng Composite Index  .HSCI  gains 0.2% and Hang Seng Index
 .HSI  adds 0.03%
    ** Stock of Super Hi soared 71.9% YTD, shares of Haidilao up
40% YTD

 (Reporting by Donny Kwok)
 ((donny.kwok@thomsonreuters.com))