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Chinese bubble tea firm Mixue eyes $500m in Hong Kong IPO later this month

Chinese bubble tea firm Mixue eyes $500m in Hong Kong IPO later this month

FILE PHOTO: A customer walks out of a Mixue Bingcheng bubble tea store at a shopping mall in Beijing, China September 19, 2024. REUTERS/Florence Lo/File Photo

China’s largest bubble tea firm, Mixue Group, will begin bookbuilding for its Hong Kong initial public offering by the end of February to raise about $500 million, according to three sources with direct knowledge of the matter.