Shares of Mixue Group, China’s largest bubble tea chain controlled by billionaire brothers Zhang Hongchao and Hongfu, jumped 43% in its Hong Kong IPO debut.
Bubble tea chain Chagee has received Chinese approval to list on Nasdaq in the U.S., adding to Chinese consumer brands that have been looking to raise funds offshore.
Served with a wide straw, the drink allows you to sip both the beverage and chewy tapioca pearls simultaneously.
Two decades ago, a modest snack stall in the middle of one’s China poorest provinces saw its business take off after selling cut-price soft serve for just 15 cents (1 yuan) per cone. Today, it has overtaken McDonald’s and Starbucks as the world’s largest food and beverage chain by number of stores.
Mixue Group, China’s largest bubble-tea chain, surged in its Hong Kong trading debut after individual investors flocked to the company’s blockbuster HK$3.45 billion ($444 million) initial public offering.
Shares of China’s largest bubble tea and drinks chain Mixue Group jumped nearly 30% on their first day of trading on the Hong Kong Stock Exchange on Monday after the firm raised $444 million
Some results have been hidden because they may be inaccessible to you
Show inaccessible results