China bubble tea maker Guming rises 0.6% on Hong Kong trading debut (updated)

Guming Holdings

12/02/2025 01:33

(Adds deal detail from second paragraph)
    By Scott Murdoch and Donny Kwok
       SYDNEY, Feb 12 (Reuters) - Shares of Chinese bubble tea
maker Guming  1364.HK  rose by 0.6% on the Hong Kong Stock
Exchange on Wednesday after the company raised $232 million in
an initial public offering.
    The company sold 182.4 million shares at HK$9.94 a piece,
the top of the price range flagged to investors when the deal
launched last week.
    Guming, which has 9,000 stores in China, increased the
number of shares for sale in the IPO after strong demand from
investors, according to its filings.
    The retail tranche of the IPO was covered 195 times which
meant the portion of the deal allocated to those investors was
increased from 10% to 43.5%, the filings showed.
    Demand from institutional investors meant that tranche of
the deal was 15 times covered.

 (Reporting by Scott Murdoch in Sydney and Donny Kwok in Hong
Kong; Editing by Himani Sarkar and Christopher Cushing)
 ((Scott.Murdoch@thomsonreuters.com;))