Sep 23, 2022 08:59 PM

Fast Expanding Budget Milk Tea Chain Mixue Brews 6.5 Billion Yuan Shenzhen IPO

A Mixue milk tea shop in Beijing on June 6. Photo: VCG
A Mixue milk tea shop in Beijing on June 6. Photo: VCG

Chinese ice cream and tea franchise Mixue Bingcheng Co. Ltd. has applied for an IPO on Shenzhen’s main board in which it aims to raise about 6.5 billion yuan ($918 million).

Mixue — whose 21,000 milk tea shops hold about 7% of the nationwide market — plans to use the IPO proceeds to build production lines and logistics centers as well as increasing its liquidity, according to its prospectus published on Thursday.

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