Haidilao Billionaire’s US$350 Million Surprise Sale Sinks Shares
The sale equals 4.6% of shares outstanding and sent Haidilao stock down as much as 12%, its lowest since March 2022.
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Haidilao Shares Slide After Founders’ Family Trust Sells $351 Million Stake
Haidilao Shares Slide After Founders’ Family Trust Sells $351 Million Stake - Block trade by an offshore trust linked to chairman Zhang Yong’s family surprised investors and raised questions about whether China’s new offshore-trust tax rules played a role
Haidilao billionaire’s US$350 million surprise sale sinks shares
The founding family behind China’s biggest chain of hotpot restaurants sought to sell up to US$353 million shares, sending the firm’s shares down as much as 12 per cent, the lowest level since March 2022. Read more at The Business Times.
[Cable News] Haidilao CEO Zhang Yong's wife has reportedly reduced her holdings in the company. Bloomberg, citing sales documents, reports that Zhang Yong's wife, Shu Ping, sold nearly 2 million shares through a family trust.
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