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Happy City Holdings Limited (Nasdaq: HCHL), a Hong Kong-based all-you-can-eat hotpot restaurant operator, has announced the pricing of its initial public offering of 1,100,000 Class A ordinary shares at $5.00 per share. The company expects to raise gross proceeds of $5.5 million, which could increase to $6.325 million if the 45-day over-allotment option for additional 165,000 shares is exercised.
Trading is set to commence on June 24, 2025, on the Nasdaq Capital Market under the symbol HCHL. The offering, conducted on a firm commitment basis, is expected to close on June 25, 2025. The company plans to use the proceeds for business expansion in Hong Kong and Southeast Asia, along with working capital and general corporate purposes.