China bubble tea giants to apply for Hong Kong IPO

Both are planning to raise around $300m to $1b.

China bubble tea giants Mixue Bingcheng and Guming are applying for an initial public offering in Hong Kong, a report by Reuters said.

According to a report, Mixue is planning to raise $500m to $1b in its Hong Kong IPO whilst Guming is planning to raise $300m to $500m.

Mixue and Guming are two of China’s biggest bubble tea makers, with Mixue owning roughly 36,000 outlets and Guming at around 9,000.