Diamond Member Pelican Press 0 Posted March 3, 2025 Diamond Member Share Posted March 3, 2025 This is the hidden content, please Sign In or Sign Up Bubble tea giant soars on Hong Kong trading debut The Snow King mascot on a cup at a Mixue store in Beijing, China, on Thursday, Feb. 27, 2025. Bloomberg | Bloomberg | Getty Images Shares of China’s largest bubble tea chain Mixue jumped 24% on market debut after a heavily oversubscribed initial public offering. The company This is the hidden content, please Sign In or Sign Up ($26.04) for 17.06 million shares, raising a total of HK$3.45 billion. The IPO has gained the support of five cornerstone investors, which include M&G Investments, HongShan Growth, Persistence Growth Limited, HHLR Fund and Meituan’s Long-Z Fund. Shares of Mixue were highly sought after, with the Hong Kong offering over 5,200 times oversubscribed. The international offering was more than 35 times oversubscribed. The initial allocation of the IPO was 10% to the Hong Kong offering, and 90% to the international offering. However, Mixue said that due to the Hong Kong offering being oversubscribed by more than 100 times of the total number of offer shares initially available, it had increased its share of the IPO from 10% to 50%, with the other 50% to the international offering. The bookrunners for the IPO were Bank of America Securities, Goldman Sachs and UBS. Mixue is known for its milk tea, fruit drinks, ice cream and coffee. Its IPO comes weeks after Guming’s, another ******** bubble tea chain. “Our base case valuation of Mixue Group is implied market cap of HKD 96 billion or target price of HKD 254, which is 26% higher than the initial IPO price,” said Douglas Kim, an IPO analyst at Douglas Research Advisory, who also publishes on Smartkarma. This is the hidden content, please Sign In or Sign Up #Bubble #tea #giant #soars #Hong #Kong #trading #debut This is the hidden content, please Sign In or Sign Up This is the hidden content, please Sign In or Sign Up 0 Quote Link to comment https://hopzone.eu/forums/topic/232282-bubble-tea-giant-soars-on-hong-kong-trading-debut/ Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.