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China bubble tea chain Mixue surges 47% on debut, fuelling optimism in Hong Kong’s IPO market
China’s largest bubble tea chain Mixue was off to a robust start on its trading debut, jumping as much as 47% at one point. The shares rose as high as HK$298, after opening at HK$262 each. The stellar start reinforces hopes for a strong year in new equity issuances by Chinese companies in Hong Kong. Founded in 1997, Mixue has grown to more than 46,000 stores across China and in 11 other countries. The firm saw its profits grow 42% to US$481 million in the first nine months of last year, up from US$343 million during the same period in 2023. May Wong reports.
from CNA
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