Mixue Group, which operates China’s largest bubble-tea chain, is planning to raise HK$3.45 billion ($444 million) in an initial public offering in Hong Kong.

China's largest bubble tea and drinks firm, Mixue Group, is seeking to raise HK$3.45 billion ($443.66 million) in a Hong Kong initial public offering, a regulatory filing showed on Friday.

With about 45,300 locations worldwide, Chinese bubble tea and ice cream brand Mixue has come seemingly out of nowhere to surpass McDonald’s as the world’s biggest F&B chain by store count. The company made the claim in a filing with the Hong Kong Stock Exchange last month in preparation for an initial public offering later this month.

The mainland’s top bubble tea maker plans to launch its IPO later this month and list in early March, report says.

China's largest fresh-drink company Mixue Group aims to raise HK$3.45 billion (US$444 million) in a Hong Kong initial public offering (IPO) to expand its business amid heightened competition. The company plans to sell 17.

Chinas largest bubble tea and beverage brand, Mixue Group, is set to raise HK$3.45 billion ($443.66 million) through an initial public offering (IPO) in Hong Kong, according to a regulatory filing on Friday.

The company is offering 17.06 million shares at HK$202.50 apiece, with an option to increase the number of shares depending on demand.

Guming says it targets smaller cities where bubble tea is not as readily available and growth outpaces that of megacities. Read more at straitstimes.com.