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China's Top Hotpot Chain Attracts Hillhouse to $963 Million IPO

Inside a Haidilao Hotpot Restaurant Where China Billionaire Has Big Expansions Plans
Photographer: Qilai Shen/Bloomberg

Haidilao International Holding Ltd., China’s biggest hotpot restaurant chain, is seeking to raise as much as $963 million in a Hong Kong initial public offering.

The Beijing-based firm is offering 424.5 million shares at HK$14.80 to HK$17.80 apiece, according to terms for the deal obtained by Bloomberg on Monday. Cornerstone investors including Chinese investment firm Hillhouse Capital and Morgan Stanley have agreed to buy a combined $375 million of stock in the offering, the terms show.