Haidilao prepares for HK IPO

Beijing-based hotpot restaurant chain plans to raise as much as $1 billion via float

Haidilao International Holding, Chinese mainland's biggest hotpot restaurant chain, will kick-start its IPO on Wednesday, planning to raise as much as $1 billion from share sales.

The Beijing-based company's forthcoming listing in the Hong Kong stock market follows that of Meituan-Dianping, a mainland online food delivery and booking giant, which began its listing last week for its potential $4.4 billion IPO in the city.