ChaBaiDao, a popular Chinese bubble tea chain, has initiated the largest initial public offering (IPO) in Hong Kong this year. The company is offering approximately 148 million shares at HK$17.50 ($2.23) per share, with the goal of raising up to 2.6 billion yuan ($330 million).
Headquartered in Chengdu, ChaBaiDao is owned by Sichuan Baicha Baidlao Industrial Co Ltd. The company has disclosed plans to sell 10% of its shares in Hong Kong and distribute the remaining 90% globally.
Additionally, underwriters have been granted an oversubscription option to sell an additional 15% of shares, indicating significant investor interest in the IPO.
