Happy City Holdings Limited (HCHL), the parent company of a Hong Kong hotpot restaurant group, priced its IPO at $5.00 – the low end of its $5.00-to-$7.00 price range – and increased the deal’s size at pricing to 1.1 million shares – up from 1.0 million shares in the prospectus – to raise $5.5 million on Monday night, June 23, 2025.
Happy City Holdings’ stock opened at $6.75 – up $1.75 for a 35 percent gain from its $5.00 IPO price – in its NASDAQ debut on Tuesday, June 24, 2025. By the closing bell, Happy City Holdings’ stock was trading at $5.00 – ending its first day of NASDAQ trading even with its IPO price.
Dominari Securities, Pacific Century Securities and Revere Securities served as the joint book-runners.
Happy City’s three Hong Kong restaurants serve all-you-can-eat Thai and Japanese hotpot cuisine under the brand names “Thai Pot” and “Gyu! Gyu! Shabu Shabu,” the prospectus said. The company’s restaurants “give customers set time limits for dining,” the prospectus said.
Happy City conducts all of its operations in Hong Kong through its wholly owned subsidiaries, A-One President Limited, Topwell Gold Limited, and Million Great International Limited, the prospectus said. The parent company, based in Singapore, is incorporated in the British Virgin Islands.
Happy City Holdings Limited (HCHL) is profitable: Net income of $1.32 million on revenue of $8.3 million for the 12 months that ended Aug. 31, 2024.
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