Chinese bubble tea chain ChaPanda seeks $320m IPO in Hong Kong
It is set to be the biggest IPO in Hong Kong this year.
Sichuan Baicha Baidao Industrial is seeking to raise more than HK$2.5b ($320m) in an initial public offering in Hong Kong.
“The Company has applied to the Listing Committee of the Stock Exchange for the listing of, and permission to deal in, the H Shares to be issued pursuant to the Global Offering (including any additional H Shares which may be issued pursuant to the exercise of the Over-Allotment Option and the H Shares to be converted from the Unlisted Shares). Assuming that the Hong Kong Public Offering becomes unconditional at or before 8:00 a.m. in Hong Kong on Tuesday, April 23, 2024, dealings in the H Shares on the Stock Exchange are expected to commence at 9:00 a.m. in Hong Kong on Tuesday, April 23, 2024,” the company said in a bourse filing.
The Offer Price will be HK$17.50 per Offer Share.
Sichuan Baicha Baidao Industrial owns and operates ChaPanda, a bubble tea chain in China.
