Auntea Jenny Targets HK$273 Million in Hong Kong IPO Amid Tea Brand Boom
Chinese bubble tea chain Auntea Jenny is scheduled to list on the Hong Kong Stock Exchange on May 3, marking another significant public debut for a milk tea brand within two months. The company plans to issue 2.41 million H-shares at a price range of HKD 95.57 to HKD 113.12, aiming to raise between HKD 230 million and HKD 273 million. This move targets a post-listing valuation of approximately HKD 10 billion to HKD 11.8 billion. Despite a relatively modest fundraising goal, the IPO has attracted substantial investor interest, achieving a 3,339.5x oversubscription with total bids exceeding HKD 91.1 billion. Between 2022 and 2024, Auntea Jenny expanded its store network from 5,307 to 9,176 locations, driving gross merchandise value to RMB 10.7 billion. However, facing slowing growth and intensifying market competition, the company is strategizing to launch lower-tier sub-brands and tea-coffee hybrid products. This expansion strategy specifically targets underserved smaller cities in China to sustain long-term growth. The IPO pricing positions Auntea Jenny just below competitor Mixue, outpacing other rivals like Guming and ChaPanda in market valuation expectations.
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Auntea Jenny Targets HK$273 Million in Hong Kong IPO Amid Tea Brand Boom
Chinese bubble tea chain Auntea Jenny is scheduled to list on the Hong Kong Stock Exchange on May 3, marking another significant public debut for a milk tea brand within two months. The company plans to issue 2.41 million H-shares at a price range of HKD 95.57 to HKD 113.12, aiming to raise between HKD 230 million and HKD 273 million. This move targets a post-listing valuation of approximately HKD 10 billion to HKD 11.8 billion. Despite a relatively modest fundraising goal, the IPO has attracted substantial investor interest, achieving a 3,339.5x oversubscription with total bids exceeding HKD 91.1 billion. Between 2022 and 2024, Auntea Jenny expanded its store network from 5,307 to 9,176 locations, driving gross merchandise value to RMB 10.7 billion. However, facing slowing growth and intensifying market competition, the company is strategizing to launch lower-tier sub-brands and tea-coffee hybrid products. This expansion strategy specifically targets underserved smaller cities in China to sustain long-term growth. The IPO pricing positions Auntea Jenny just below competitor Mixue, outpacing other rivals like Guming and ChaPanda in market valuation expectations.
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