Peng Xin and Zhao Lin founded the beverage chain in Shenzhen in 2014.  Chinese bubble tea chain appears to be preparing to become billionaires as the company decides for an IPO in Hong Kong. According to their stake in Nayuki, their net worth will reach at least US$1.1 billion.  The Bubble tea chain plans to raise up to US$656 million by selling 257.3 million shares at a price of HK$17.2 to HK$19.8. 

After the Chinese Bubble tea chain, Nayuki Ltd. Holdings Hong Kong IPO price reached the top of its tradeable range. The Chinese Bubble tea chain Nayuki Holdings Ltd. raised US$5.09 billion (US$656 million). The latest company to run the recovery of the Asian financial center. According to Bloomberg News’ trading terms, Nayuki sold 257.3 million shares at a price of $19.8 per share. Its popular fresh fruit teas included cheese-foam-topped drinks. Marketed the shares at HK$17.2 to HK$19.8 apiece.

This teahouse operator is testing the waters. After the transparent orthodontic braces manufacturer Angel Technology Co., Ltd. Relaunched the Hong Kong IPO market with a 132% surge when it debuted in Hong Kong on the 16th of June. Becoming one of this year’s most popular offerings in the city.

As the decline in the global technology stocks sell-off has created a more favorable situation for the debut. The initial sales volume of Hong Kong stocks is rising after a period of downturn. There are currently at least 13 listed companies and two deals priced. According to data compiled by Bloomberg, the transaction will be listed in April and four in May.

However, not all IPOs have been warmly welcomed, as investors have become more selective. In the context of increased market volatility and rising expectations of China Youran Dairy Group’s tightening of monetary policy Limited company and CARsgen Therapeutics Holdings Ltd. fell. Their commercial debut last Friday rose 12% and 9% respectively.

The sale of Nayuki shares attracted five major investors who agreed to subscribe for approximately US$155 million in shares. UBS Asset Management, China Universal Asset Management, China GF Fund, China Southern  Asset Management, and CCB International, according to the prospectus.

The retail portion of Nayuki’s initial public offering attracted more than 400 times, citing the names of his unnamed people. The highest price in this range puts the Bubble Tea chain store’s valuation at approximately US$4.38 billion. While its latest round of financing was US$2 billion. According to Bloomberg News, the company originally planned for an IPO in the United States in February last year, but eventually settled in Hong Kong. 

The Shenzhen-based company sells fresh fruit teas, cold drinks, and baked goods. The prospectus shows that the company will lose 203 million yuan in 2020 and 40 million yuan in the previous year. Sales increased by 22% to 3.1 billion yuan. Nayuki plans to use the proceeds from this offering to expand its teahouse network. Increase market penetration and strengthen its supply chain. At the end of last year, there were 491 flagship stores in Nayuki, including 489 in mainland China, and 1 in Hong Kong and Japan.