(Yicai Global) May 8 -- The founders of Haidilao International Holding are looking to sell more than HKD1.6 billion (USD193.5 million) worth of the Chinese hotpot chain's shares, potentially for public welfare purposes.

Firms controlled by Chairman Zhang Yong and his wife, as well as Executive Director Shi Yonghong and his spouse, have agreed with placing agent Goldman Sachs to sell 47 million shares, about 0.9 percent of outstanding share capital, at HKD33.20 (USD4.30) apiece, the restaurant giant said in a filing to the Hong Kong Exchanges and Clearing on May 7, without disclosing the purpose. They expect the deal to be closed on May 11, after which the two couples will still hold over 57 percent of the shares.

In January, Zhang penned an agreement with the southwestern city of Jianyang, where the company was established in 1994, to donate CNY100 million (USD14.1 million) to be used for healthcare, as well as agricultural, and industrial construction, financial media Economic View reported, citing an anonymous executive at the firm. The funds should be delivered in the second half, the person added.

The two pairs have placed more attention on social causes and succession plans lately. On April 27, Zhang said in an open circular that the company will open a line of succession to its employees through a point scoring system as the founders prepare to retire within the next 15 years.

Haidilao's stock price [HKG: 6862] fell 0.3 percent to HDK34.10 this afternoon.

Editor: Emmi Laine