China bubble tea firm debuts after $650 mn IPO caps labour of love
published : 30 Jun 2021 at 09:45 Nayuki said it will use cash from the share sale to embark on a massive expansion drive
HONG KONG - Chinese bubble tea chain Nayuki edged down on its Hong Kong market debut Wednesday after raising more than US$650 million in an IPO that marked the culmination of a literal labour of love for the co-owners who created the firm on a blind date.
The company joins a handful of bubble tea outlets to go public in recent years as the beverage which comes loaded with milk, sugar and tapioca pearls storms out from its Asian fanbase to gain a global following.
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