Snow King Mascot on a cup at Mixe store in Beijing in China, Thursday, February 27, 2025.
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The shares of the largest Chinese chain of the bubble tea chain jumped 24% on the market debut after a highly subscribed initial public offer.
Company She appreciated her initial public offer at HK 202.5 USD ($ 26.04) for 17.06 million shares, collecting a total of 3.45 billion HK.
IPO has gained the support of five investors in Cornestone, including M&G Investments, Hongshan Growth, Persistente Growth Limited, HHLR Fund and Meituan’s Long-Z Fund.
Mixue’s shares were highly sought after, and Hong Kong offered more than 5,200 times subscribed. The international offer was more than 35 times subscribed.
The initial award of the IPO was 10% offering Hong Kong and 90% to the international offer.
However, Mixue said that due to the subscription of Hong Kong, she subscribed more than 100 times the total number of stakes on offer, increased her IPO share from 10% to 50%, from the other 50% for international offer.
Booknners for IPO were Bank of America Securities, Goldman Sachs and UBS.
Mixe is known for its milk tea, fruit drinks, ice cream and coffee. His iPo comes a few weeks after the rubber, another Chinese chain of tea with bubbles.
“Our fundamental cases of the Mixue Group implies a market limit of 96 billion HKDs or a target price of 254 HKD, which is 26% higher than the initial price of IPO,” said Douglas Kim, IPO analyst from Douglas Research Advisory, which also publishes on smartcams.
