China's largest bubble tea chain Mixue soars 34% on Hong Kong trading debut

Shares of China’s largest bubble tea chain Mixue surged 34% on its market debut after a highly oversubscribed IPO, with shares trading at 271 Hong Kong dollars compared to the offer price of HK$202.5. The company raised a total of HK$3.45 billion by offering 17.06 million shares, known for its milk tea, fruit drinks, ice cream, and coffee. Other Chinese bubble tea companies in Hong Kong also saw gains, supported by cornerstone investors including M&G Investments and Meituan’s Long-Z Fund, with the Hong Kong offering oversubscribed by over 5,200 times and the international offering over 35 times.

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