Happy City Holdings Ltd

Happy City Holdings Ltd (HCHL) priced its initial public offering on Jun 23, 2025 at $5.00 per share, raising $5.5M, and listed on Nasdaq Capital Market. At the IPO price its market capitalization was about $95.5M. Ogier, Ortoli Rosenstadt and China Commercial Law Firm advised the company and VCL Law advised the underwriters.

Happy City Holdings Ltd is a Hong Kong-headquartered restaurant operator running three all-you-can-eat hotpot restaurants through wholly owned subsidiaries. Its brands include Thai Pot, serving Thai hotpot, and Gyu! Gyu! Shabu S, serving Japanese hotpot.

Status

IPO

Ticker

HCHL

Exchange

Nasdaq Capital Market

Priced

Jun 23, 2025

IPO price

$5.00

Raised

$5.5M

Market cap at IPO price

$95.5M

First filed

Mar 17, 2025

Company counsel

Ogier, Ortoli Rosenstadt and China Commercial Law Firm

Underwriters' counsel

VCL Law

Sector

Consumer

Country / state

Hong Kong

Market cap at IPO price = shares outstanding after the offering (all classes, before the over-allotment option) × the IPO price, from the final prospectus.