IPO: Mixue Group Jumps

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Mixue Group, China’s largest bubble-tea chain, surged in its Hong Kong trading debut after individual investors flocked to the company’s blockbuster HK$3.45 billion ($444 million) initial public offering.

The stock jumped as much as 38% higher after being sold at HK$202.50 apiece during the IPO.

The deal became so sought after that Hong Kong individual investors applied to borrow more than HK$1.8 trillion to buy the stock, a record for margin loans. The flood of applications led underwriters to stop taking orders a day earlier than planned

Read More: bit.ly/MegaTrends-Bubble-Tea

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