Chinese bubble tea brand operator Guming eyes $200m in HK IPO
The brand is selling 158.6 million shares.
Chinese bubble tea firm Guming is looking to raise more than $200m in its Hong Kong initial public offering, according to regulatory filings.
The company is selling 158.6 million shares between HK$8.69 ($1.11) and HK$9.94 ($1.28) per share.
The final price will be decided on Friday whilst trading starts on 12 February.
Cornerstone investors are led by Huang River Investment Limited, a subsidiary of Chinese tech giant Tencent, GM Charm Yield (BVI) Limited, LVC, Long-Z Fund I, LP, and Duckling Fund, L.P.
Guming, which operates as under the bubble tea brand name Good Me has over 9,000 outlets in China. The brand is considered in China as one of its biggest mid-priced freshly made beverage sellers. The brand was first reportedly aiming for an IPO in 2024.
A separate report by Momentum Works highlights that Chinese brands are increasingly targeting Southeast Asia as their next battleground, driven by mounting challenges in the domestic market.
