IPO of fresh fruit drink giant Mixue oversubscribed

China’s fresh fruit drink giant Mixue Group’s retail tranche of its Hong Kong initial public offering has been oversubscribed by more than 2,432 times in the retail book.

Retail investors applied to borrow approximately HK$839.3 billion through margin financing, according to data from brokerages.

Futu Securities lent the most, amounting to HK$578.6 billion, followed by Phillip Securities with HK$133.6 billion.

Tiger Brokers and Bright Smart Securities lent HK$35.3 billion and HK$21 billion, respectively.

Mixue started its book building on February 21 at HK$202.50 apiece, with a minimum investment of HK$20,454.22 per board lot of 100 shares.

The company plans to issue a total of 17.06 million shares, with 10 percent for the retail tranche, raising about HK$3.45 billion from its Hong Kong listing.

STAFF REPORTER