Tea chain bubbles are larger than Starbucks sees that stock jumps on your debut

Mixue ice cream and tea can be unfamiliar for many of us, but in a Chinese firm more outlets than McDonalds and Starbucks.

On Monday, the shares of The Bubble Tea Chain jumped at 40%when they started trading on the Hong Kong Stock Exchange.

The company raised $ 444 million (£ 352) in the largest initial public proposal (IPO) at the Financial Center (IPO).

Mixue’s popularity comes with so many people in China who are fighting the country’s economic problems – including the property crisis, as well as weak consumer and business confidence. It sells ice cream and beverages on average six Chinese yuan ($ 0.82; £ 0.65).

The company was founded in 1997 by Zhang Hanchao, a student at the University of Finance and Economics Henon as a part -time job to help financing their family.

Its full name mìxuě bīngchéng means “honey snowy city” and shops are decorated with their snow king and played The official melody firm On the loop.

According to Mixue, it has more than 45,000 stores in China and 11 other countries, including Singapore and Thailand. The firm also said it plans to continue to expand.

This is compared to “more than 43,000 seats” for 40 576 McDonald’s and Starbucks seats.

Although it is often regarded as the largest Chinese bubble tea, ice drinks and a chain of ice cream, it works more than a raw material supplier than a traditional brand.

Unlike Starbucks, which works directly over half its stores, almost all Mixue outlets are managed by Franchise.

A strong Mixue debut market contrasts with its smaller opponent, which on the first day of trading on the first day of trading.

Last year, Bubble Chabaidao Tea Network Owner also hit the market debut.