Super Hi International Holding Ltd. ( HDL ) obtained dual listing approval on NASDAQ on May 16 and began trading on May 17. The IPO price was set at $ 19.56 per share, raising approximately $ 52.67 million. The stock opened at $ 27 on the first day, a 38% increase over the IPO price, peaking at $30 per share with an intraday rise of up to 53.4%. At the close, the price settled at $ 22.29 per share, reflecting a 13.96% increase and a total market value of $ 1.441 billion. On May 20, the closing price was $20.92 per share, with a market value of $ 1.352 billion.
The IPO included the sale of 2,692,700 American Depositary Shares (ADS), each representing 10 newly issued common shares. Based on the IPO price, the market value of Super Hi International Holding Ltd. is approximately $ 1.26 billion.
The global market lacks multinational chain Chinese restaurant brands, making those with established brand recognition rare. Listing in the United States not only supports the internationalization strategy of Chinese restaurant brands but also attracts global consumers by providing international exposure. This expansion helps companies increase their market share and enhance global brand competitiveness.
However, going public brings new challenges and risks, such as cultural integration, market competition, and controlling operational costs. To succeed abroad, Chinese restaurant brands need to adopt localization strategies, including adjusting menu flavours to meet local preferences and respecting local cultures. Establishing local supply chains to achieve economies of scale, reduce raw material costs, and increase profitability is also essential.
