Deals
One of China’s Biggest Bubble Tea Chains Seeks $400 Million U.S. IPO
- Naixue seeks to raise as much as $400 million in share sale
- Chain runs more than 230 bubble tea stores across China
Source: Nayuki
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Naixue’s Tea, one of the biggest bubble tea chains in China, has filed confidentially for a U.S. initial public offering that could raise as much as $400 million, according to people familiar with the matter.
Bloomberg News reported on Tuesday that the company, also known as Nayuki, has been working with advisers on the share sale that could take place as soon as this year. The firm is also looking to raise about $50 million to $100 million in a pre-IPO funding round, the people have said, who asked not to be identified as the discussions are private.