China's bubble tea explosion has minted half-a-dozen billionaires
==========
The explosion in popularity of bubble tea in China has resulted in at least six billionaires. Sichuan Baicha Baidao Industrial Co., China's third-largest bubble tea chain, is set to go public in Hong Kong with a valuation of nearly $4 billion. The founders, Wang Xiaokun and Liu Weihong, will become billionaires with a combined net worth of $2.7 billion. Guming Holdings and Auntea Jenny (Shanghai) Industrial Co., two of Baicha Baidao's biggest rivals, are also planning IPOs. China's largest bubble tea marker, Mixue Group, is considering an IPO as well. Nayuki Holdings, a high-end bubble tea maker, has seen its stock price fall by nearly 90% since going public in Hong Kong three years ago.
#BubbleTea #Billionaires #Ipo #China #HongKong
https://markets.businessinsider.com/news/stocks/bubble-tea-billionaires-china-ipos-baicha-baidao-mixue-stock-2024-4
Markets Insider /
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2024-04-22 21:35:28
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2024-04-22 21:35:28Event JSON
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"content": "China's bubble tea explosion has minted half-a-dozen billionaires\n==========\n\nThe explosion in popularity of bubble tea in China has resulted in at least six billionaires. Sichuan Baicha Baidao Industrial Co., China's third-largest bubble tea chain, is set to go public in Hong Kong with a valuation of nearly $4 billion. The founders, Wang Xiaokun and Liu Weihong, will become billionaires with a combined net worth of $2.7 billion. Guming Holdings and Auntea Jenny (Shanghai) Industrial Co., two of Baicha Baidao's biggest rivals, are also planning IPOs. China's largest bubble tea marker, Mixue Group, is considering an IPO as well. Nayuki Holdings, a high-end bubble tea maker, has seen its stock price fall by nearly 90% since going public in Hong Kong three years ago.\n\n#BubbleTea #Billionaires #Ipo #China #HongKong\n\nhttps://markets.businessinsider.com/news/stocks/bubble-tea-billionaires-china-ipos-baicha-baidao-mixue-stock-2024-4",
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