China Bubble Tea Chain Mixue Pops 47% on Debut as Hong Kong Ipo Volumes Rebound
Mixue Group's shares jumped over 47% in their debut on the Hong Kong Stock Exchange, with retail investors subscribing for 5,258 times more shares than were on offer. The strong demand was driven by Mixue's high profile among Chinese consumers and a lack of IPOs in Hong Kong. The company raised $444 million in its initial public offering, with new listings recording their strongest start to a year since 2021.
- The popularity of bubble tea chains like Mixue highlights the enduring appeal of this beverage in China's rapidly changing consumer landscape.
- How will the influx of capital from Mixue's IPO impact the competitive dynamics among Chinese tea chain operators in the coming years?