The Snow King mascot on a cup in a mixture store in Beijing, China, Thursday, February 27, 2025.
Bloomberg | Bloomberg | Getty images
The actions of the largest mixture of the Chinese bubble tea chain jumped more than 40% when it started on the market on Monday after a strongly overwritten public offer.
The shares were seen for the last time on approximately 41% at $ 285.8 Hong Kong ($ 36.52), compared to the price of the IPO HK $ 202.5 per share. The action initially opened the trade at $ 267 HK, according to exchange data.
The mixture, known for its milk tea, fruit drinks, ice cream and coffee, had offered 17.06 million shares in its IPO, increasing a total of $ 3.45 billion HK.
The actions of other tea companies with Chinese bubbles listed in Hong Kong exchanged lower on Monday morning, erasing previous gains. Nayuki dropped 6.2%, while Sichuan Baicha Baidao was 5.5%lower. Gumming fell 3.3%.
The IPO has won the support of five Cornerstone investors, who include M&G investments, Hongshan growth, Limited persistence growth, the HHLR fund and the Meituan Long-Z Fund.
The mixing actions have been highly sought after, the Hong Kong offering more than 5,200 times adversely. The international offer was over 35 times overwriter.
The initial allowance for the IPO was 10% at the Hong Kong offer and 90% to the international offer.
However, Mixue said that due to Hong Kong’s offer being overwritten by more than 100 times the total number of supply shares initially available, it had increased its share of the IPO from 10% to 50%, with the remaining 50% in the international offer.
The deliverers of the IPO were Bank of America Securities, Goldman Sachs and UBS.
Investors “warm up” in the bubble tea market
“Investors are heating up again in the bubble tea market,” said Longdley Zephirin, director and analyst of the Zephirin group, adding that the mixing of the mix of mixing is a demonstration of the way in which “hungry” investors are.
Although mixed is currently largely based in Southeast Asia, the bubble tea chain can follow another chain of Chinese tea drinks, Heytea, developing in Europe and the United States, said Zephirin.
The biggest mix of mix is ​​to go from cities of level two and level three to level 1 cities, where most of its competitors like Nayuki and Heytea have points of sale, said Zephirin.
Although there is no official classification, cities in China are often classified in certain levels depending on factors such as gross domestic product (GDP) and population. Shanghai, Beijing and Guangzhou are widely mentioned as first -level cities.
“Our basic assessment of the mixed group is implicit of market capitalization of 96 billion HKD or target price of HKD 254, which is 26% higher than the initial price of Introduction on the stock market,” said Douglas Kim, IPO analyst at Douglas Research Advisory, who also publishes on Smartkarma.
