Core Viewpoint - Baima Tea, a leader in China's high-end tea market, successfully listed on the Hong Kong Stock Exchange, raising approximately HKD 4.5 billion through its IPO, with a strong oversubscription rate of 2680.04 times for the public offering and 13.58 times for the international offering [3][6]. Company Overview - Established in 1997, Baima Tea is recognized as the top brand in the high-end Chinese tea market, offering a comprehensive product range that includes various types of tea and related products [6]. - According to a report by Frost & Sullivan, Baima Tea ranks first in the Chinese tea market by the number of chain specialty stores and by sales revenue in the high-end tea segment as of the end of 2024 [6]. - The company has a total of 3,585 offline stores in China, including 244 direct-operated stores and 3,341 franchised stores, with a significant online presence across major e-commerce platforms [6]. Shareholding Structure - The controlling shareholders of Baima Tea are family members acting in concert, holding a combined 49.98% of the shares, with Wang Wenbin holding 22.69% and Wang Wenli holding 18.22% [5][6]. - Other notable shareholders include Tianjin Changfeng (6.14%) and various institutional and individual investors, with public shareholders collectively holding 10.59% [5]. IPO Details - The IPO involved a global offering of 9 million H shares, representing 10.59% of the total shares post-issue, with a maximum price set at HKD 50.00 per share [3]. - The IPO was managed by a team of underwriters including Huatai International, Agricultural Bank of China International, and others, with KPMG serving as the auditor [10]. Market Performance - Following the IPO, Baima Tea's shares closed at HKD 81.80, reflecting a 63.60% increase, resulting in a market capitalization of approximately HKD 69.53 billion [7].
八马茶业(06980)，成功在香港上市