Another Chinese Bubble Tea Chain Brews Hong Kong IPO

Chinese bubble tea chain Auntea Jenny has filed for a Hong Kong IPO, becoming the latest beverage brand to take advantage of a post-pandemic revival in consumer spending to spice up business.

Auntea Jenny (Shanghai) Industrial Co. Ltd., the owner of the brand, plans to use the majority of the proceeds to boost digitalization and supply chain capabilities, as well as expand product offerings and upgrade equipment, according to its prospectus published by the Hong Kong Stock Exchange Wednesday.