China’s largest bubble tea and drinks firm, Mixue Group, is seeking to raise HK$3.45 billion in a Hong Kong IPO, according to a regulatory filing on Feb 21.
The filings showed that the company is selling 17.1 million shares at a fixed price of HK$202.5 each.
Bookbuilding for the IPO starts on Feb 31 and the stock is due to begin trading on the Hong Kong Stock Exchange on March 3.
Mixue has 45,000 stores in mainland China and 11 other countries through a major franchise network, according to its filings.
It is best known for selling fruit and tea drinks, coffee and ice cream, typically for about US$1, it said.
The company was started in 1997 in Zhengzhou by founder Zhang Hongchao, who began the business with a homemade shaved ice machine.
It sold 7.1 billion drinks in the nine months ended September last year.
