China’s Largest Milk Tea Seller Mixue Applies for Hong Kong IPO

What’s new: China’s largest ice cream and milk tea franchise, Mixue Bingcheng Co. Ltd., has applied for an IPO in Hong Kong after it shelved a 6.5-billion-yuan ($918 million) IPO planned for Shenzhen’s main board last year.

The company didn’t disclose the size of the IPO. It is looking to raise $500 million to $1 billion in its Hong Kong IPO, Reuters reported, citing a source with direct knowledge of the matter.