IPO

Hong Kong’s bubble tea IPO flop is a sign of the market times
Lex专栏:茶百道上市首日破发的启示

Chabaidao’s experience reflects weak local investor sentiment
消费者对奶茶保持很高的兴趣,但市场对茶百道上市没有表现出同样的热情,尽管这不只是这家manbetx3.0 茶饮连锁品牌的过错。

Bubble tea — a combination of tea, milk, sugar and chewy tapioca pearls — has been around since the 1980s. Yet among younger Asians, the drink is a modern necessity. Endless variations from strawberry white chocolate to passion fruit keep interest levels high.Markets have not shown the same enthusiasm for the listing of Chinese bubble-tea maker Sichuan Baicha Baidao Industrial Co — widely known as Chabaidao. It plunged more than 38 per cent on its Hong Kong debut on Tuesday. The flop is not just the tea maker’s fault, though.

珍珠奶茶——由茶、牛奶、糖和有嚼劲的木薯“珍珠”混合而成——在上世纪80年代就有了。然而对年轻的亚洲人来说,这种饮料是现代必需品。从草莓白巧克力到百香果,无穷无尽的风味让消费者对它保持很高的兴趣。

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