Staff Reporter
,
Hong Kong
Photo from Mixue website.
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.
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