Haidilao restaurant spin-off Super Hi lists on HKEX

Haidilao restaurant spin-off Super Hi lists on HKEX

Kirkland & Ellis, Jingtian & Gongcheng and Conyers Dill & Pearman were among seven firms advising on the Hong Kong Stock Exchange listing of Super Hi International, a spin-off of Haidilao’s global restaurant business.

Super Hi International’s listing is by introduction, which means no new shares are issued or financing is raised. Super Hi will operate Haidilao’s Sichuan hotpot restaurants overseas.

Kirkland & Ellis advised on Hong Kong law, Jingtian & Gongcheng advised on PRC law, Conyers Dill & Pearman advised on Cayman Islands law, Drew & Napier advised on Singapore law, Katten Muchin Rosenman advised on US law, Bizlink Lawyers advised on Vietnam law, and Lee Hishammuddin Allen & Gledhill advised on Malaysia law.

Capital markets partners Mengyu Lu and Samantha Peng led the Kirkland & Ellis team.

Paul Hastings advised the joint sponsors Morgan Stanley and Huatai International on Hong Kong and US law, and Commerce & Finance Law Offices advised on PRC law.

The Paul Hastings team was led by Raymond Li, founding partner and chairman of the firm’s Greater China region, with corporate department partners Fan Chaobo and Vincent Wang.

The Haidilao brand had a total of 110 restaurants in overseas locations as of the end of 2022, and half of them were in Singapore, Malaysia and Vietnam. Three-quarters of its overseas customers are from Southeast Asia.