The shares of the Chinese company Michoi, the largest bubble tea sales network in China, increased by more than 40% in their debut appearance on the market on Monday after a successful initial public offering. The price of the shares rose to 284 Hong Kong dollars (~36.52 USD) per piece, which is 40% higher than their initial price of 202.5 Hong Kong dollars.
Initially, 10% of the shares were allocated for offerings in the Hong Kong market and 90% for international offerings. After the opening of trading, the shares started at 267 Hong Kong dollars, according to the exchange data.
Michoi shares faced enormous demand, with oversubscription in Hong Kong more than 5200 times and in international offerings – 35 times.
- Kenia Summiy, journalist
