This article only represents the author's own views.
If your bubble bursts the first time, then you try again. That’s the new signal coming from Mixue Group, China’s largest bubble tea chain by store count, which is attempting to list in Hong Kong after its previous IPO attempt in 2022 on China’s domestic A-share market fell flat.
Mixue is looking to raise $500 million to $1 billion in its IPO, according to a Reuters report last week, which cited a source with direct knowledge of the matter. A sale of 10% of its shares at the bottom of that range would value the company at a sizable $5 billion – nearly seven times the value of Nayuki (2150.HK), the only other Hong Kong-listed company from China’s bubble tea sector.
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