News summary
Tehai International plans to issue 269 on Nasdaqtherubymegawaysslot.270,000 American Depositary Sharestherubymegawaysslot, trading code "HDL", the entity controlled by Zhang Yong is expected to hold 45.66% of the company.
Newsletter text
Haidilao announced that it will issue 2.6927 million American depositary shares on the Nasdaq market [HDL overseas business Tehai International plans to issue shares and is expected to be listed and traded on the Nasdaq]
Tehai International announced on May 14 that the company plans to issue 2.6927 million American Depositary Shares (ADS) shares on the Nasdaq market with the stock code "HDL" and expects the shares to be traded on that market.
The announcement also mentioned that after the completion of this offering, if the underwriter does not exercise the option to purchase additional ADSs, the entity controlled by Tehai International founder Zhang Yong will hold 45.66% of the company's issued shares.
Tehai International opened its first restaurant in Singapore in 2012. At the end of 2022, the company will be listed on the Hong Kong Stock Exchange through introduction for trading.
At the end of April this year, Tehai International announced that its board of directors had decided to publicly sell new ADSs on Nasdaq, with a maximum of approximately 123 million shares expected to be issued.