Bubble Tea IPOs to Test China's Consumer Market

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From Breakingviews: Bubble tea may be the new bellwether for the Chinese consumer, says t__shum

With Beijing unlikely to roll out meaningful stimulus – such as cash handouts to households – bubble-tea makers can still deliver a potent brew for investors.At least six bubble tea companies are looking to go public in either Hong Kong or the United States, Bloomberg reported on July 24 citing people familiar with the matter.

In 2022, China’s biggest bubble tea chain by store count, Mixue Bingcheng, filed for a $918 million initial public offering in Shenzhen. The deal has been on hold, sources told Bloomberg, and the company has yet to make a final listing location.Opinions expressed are those of the author. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

 

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