The positive trend in the Hong Kong stock market, bolstered by a series of successful IPOs, enhances its allure to potential listings. Reports by Hong Kong Exchanges and Clearing Ltd. (HKEX) indicated that new listings in 2024 raised a total of 87.74 billion Hong Kong dollars, a more than 90 percent increase from the previous year.

Shares of China's largest bubble tea and drinks chain Mixue Group jumped more than 43% on their first day of trading on the Hong Kong Stock Exchange on Monday, as the city records its strongest start to a year for new listings since 2021.

Mixue's gain came as its major bubble tea rivals were sold off, with Sichuan Baicha Baidao down nearly 7% and Guming down 1.7% on Monday. Retail investors in the IPO subscribed for 5,258 times more shares than were on offer in that tranche, according to Mixue's filings, making it one of Hong Kong's most popular IPOs.

Shares of Mixue Group, China’s largest bubble tea chain controlled by billionaire brothers Zhang Hongchao and Hongfu, jumped 43% in its Hong Kong IPO debut.

Shares of China's largest bubble tea and drinks chain Mixue Group jumped nearly 30% on their first day of trading on the Hong Kong Stock Exchange on Monday after the firm raised $444 million in an initial public offering (IPO).

HONG KONG -- China's top bubble tea chain Mixue, which counts more shops than the global networks of Starbucks and McDonalds, jumped 29.4% after its listing on the Hong Kong Exchange Monday morning. The stock opened at 262 Hong Kong dollars, versus the initial public offering price of HK$202.50.