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The $12 Billion Hotpot Fortune Cooked Up by a Chinese Foursome

Haidilao’s market value approaches Domino’s and Chipotle’s
The Beijing-based chain has a network of 363 restaurants

Haidilao Hotpot Restaurant as China's No. 1 Hotpot Chain Said to Price $963 Million IPO at Top — Photographer: Anthony Kwan/Bloomberg

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By Venus Feng, Fox Hu, and Daniela Wei

September 26, 2018 at 6:32 AM UTC

Updated on

September 26, 2018 at 11:58 AM UTC

China’s passion for spicy hotpot has served up four new mega-rich entrepreneurs.

Haidilao International Holding Ltd. became the biggest restaurant group on regional exchanges after rising in its Hong Kong debut, approaching the value of Domino’s Pizza Inc. and Chipotle Mexican Grill Inc. The shares closed 0.1 percent higher at HK$17.82, valuing the company at about 63 times its adjusted earnings for the year ended June 30.