Company Dynamics - Hong Kong Stock Exchange is set to welcome the listing of Baima Tea Co., Ltd. on October 28, with the stock code 6980.HK [2] - During the subscription period, Baima Tea received overwhelming market interest, achieving an oversubscription rate of over 1920 times, setting a new record for IPO subscriptions in the Hong Kong tea industry [2] - The global offering commenced on October 20, with a plan to issue 9 million shares, including 900,000 shares for public offering in Hong Kong and 8.1 million shares for international offering, at a price range of HKD 45.0 to 50.0 per share [2] - By October 23, the public offering portion attracted subscription funds amounting to HKD 86.4 billion, significantly exceeding the original public offering target of approximately HKD 45 million [2] Business Overview - Established in 1997, Baima Tea's core business includes research and design of tea and related products, standard output, and brand retail [2] - The company has developed an industry-leading "full category, multi-brand" product matrix, covering six major tea types: Oolong, black, red, green, white, and yellow tea, along with non-tea products such as tea utensils, tea snacks, and tea beverages [2] - Baima Tea also provides supporting services such as tea beverage box services, franchise licensing, and investment property leasing [2] Investment Background - Prior to the IPO, Baima Tea attracted interest from leading financial investment institutions and industry capital, including IDG Capital and Tiantu Capital [3] - The company is expected to officially list on October 28, with Huatai Financial Holdings (Hong Kong) Limited, Agricultural Bank of China International, and Tianfeng International Capital Markets Limited serving as joint sponsors [3] - Baima Tea's journey to capital markets has faced challenges, including delisting from the New Third Board and two unsuccessful attempts at A-share IPOs [3]
八马茶业再启IPO征程：10月28日港股挂牌港股