Hong Kong hotpot chain brand "HPOT.US" intends to go public in the United States, aiming to raise approximately $10 million.

The Great Restaurant Development Holdings, which operates seven large hot pot themed restaurants in Hong Kong (referred to as "Yipin Chicken Pot Hot Pot"), submitted an application for listing on the US stock market to the Securities and Exchange Commission (SEC) last Friday. They plan to raise up to $10 million in funds through an initial public offering (IPO) of American stocks. It is reported that the restaurant company, headquartered in Hong Kong, plans to raise approximately $10 million by issuing 2 million shares at a price range of $4 to $6. Based on the midpoint of the proposed price range, the overall market value of "Yipin Chicken Pot Hot Pot" will reach $103 million. The Great Restaurant Development Holdings operates a well-known chain of hot pot themed restaurants called "Yipin Chicken Pot Hot Pot" across Hong Kong, specializing in providing various types of "specialty chicken hot pot". The company claims to have created the concept of "specialty chicken hot pot" by combining clay pot cooking with self-service hot pot. Statistics show that The Great Restaurant currently operates seven "Yipin Chicken Pot Hot Pot" large hot pot themed restaurants in various districts of Hong Kong. According to public information, The Great Restaurant Development Holdings was founded in 2011, and as of the 12-month period ending June 30, 2024, the company's total sales reached $19 million. The company plans to list on the NASDAQ stock market under the stock code "HPOT". The company secretly submitted its application for listing on the US stock market on September 15, 2023. Revere Securities is the sole bookrunner for this transaction.