China’s bubble tea firm Mixue to raise about $500 million in Hong Kong IPO later in Feb, sources say

SYDNEY/HONG KONG (Reuters) – China’s largest bubble tea firm, Mixue Group, will begin bookbuilding for its Hong Kong initial public offering by the end of February to raise about $500 million, according to three sources with direct knowledge of the matter.

Mixue, which has about 36,000 stores across mainland China, plans to start trading on the Hong Kong Stock Exchange in early March, one of the sources added.

The sources asked not to be identified discussing confidential information. Mixue declined to comment.

(Reporting by Scott Murdoch in Sydney and Julie Zhu in Hong Kong; Editing by Peter Graff)