Bubble tea chain bigger than Starbucks sees shares jump on debut

The mixture of ice cream and tea may be uncommon for many of us, but the Chinese company has more ports than McDonald’s and Starbucks.

On Monday, the shares of the bubble tea chain jumped by more than 40 % when I started trading on the Hong Kong Stock Exchange.

The company raised 444 million dollars (352 million pounds) in the largest general public parties of the Financial Center (IPO) for this year.

The popularity of Mixue comes because many people in China are struggling with the economic challenges of the country – including the real estate crisis, consumer weaknesses and business confidence. Ice cream and drinks sell an average of six Chinese yuan ($ 0.82; 0.65 pounds).

The company was founded in 1997 by Zhang Hongchao, a student at Hanan Finance and Economy University, as a part -time job to help his family.

Her full name Mìxuě bīngchéng means “ice city honey”, with her stores decorated with her Snow King’s task and playing The tune of the official topic of the company On a ring.

According to Mixue, it has more than 45,000 stores across China and 11 other countries, including Singapore and Thailand. The company also said it is planning to continue expanding.

This compares to “more than 43,000 sites” for McDonald’s and Starbucks 40,576 outlets.

Although it is often seen as the largest bubble tea in China, iced drinks, and an ice cream chain, it works more like a raw material supplier than traditional brand.

Unlike Starbucks, which runs more than half of its stores directly, almost all Mixue ports are operated by concession owners.

It contradicts the first time on the market in the Mixue with the smaller competing gum, which saw the shares slip on the first day of trading in February.

Last year, the shares of Bubble Tea Chain Chain ChaINAIDAO also decreased for the first time on the market.