[Trending News] Chinese Mixue shares debut on the Hong Kong Stock Exchange with 40% appreciation

The shares opened with an increase of 29.4%, compared to the pre-opening price of 202.5 dollars of Hong Kong (24.99 euros) and, in the middle of the session, were rising 40.05%.

This situation contrasts with the tendency of other local rival companies that also opened capital last year and, after the initial enthusiasm, registered strong falls, given the intense competition in the sector.

Mixue said on Friday that the search for its shares was 5,258 times higher than the number of shares offered, which makes it one of the most successful initial public offering operations in the history of the former British colony stock exchange.

The company based in Zhengzhou, downtown China, raised $ 3.455 billion from Hong Kong (426.5 million euros) with OPI.

Mixue, which focuses especially on the popular “Bubble Teas” (tea with milk and tapioca balls), ice cream cones or soda, had over 46,000 stores worldwide around 2024, more than twice the number of 2021, which attests to its rapid expansion thanks to the cheap product model.

These numbers exceed better global names, such as McDonald`sea Starbucks, which are the only ones to surpass the mark of the 40,000 stores worldwide.

The fourth to first place jump from the table took place at the end of the third quarter of 2024, according to Singapore's Momentum Works consultant, who recalls that the vast majority of points of sale is in China, with only about 4,800 spread through Vietnam, Malaysia and Thailand.

However, the Chinese chain remains the fourth largest in the world in terms of sales in the global beverage sector: the $ 6.59 billion (6.28 billion euros) that sold it by 2023 put it behind Starbucks, Dunkin 'Dunuts and Baskin -Robins – and Tim Hortons.

Mixue focuses on low-cost drinks, maintaining product prices usually below 10 yuan (1.31 euros), a segment that expects annual growth of 17.6%by 2028, when this market will reach the equivalent of about $ 160 billion (152 billion euros).