China's largest bubble tea firm, Mixue Group, will begin bookbuilding for its Hong Kong initial public offering by the end of February to raise about US$500 million (HK$3.9 billion), according to three sources with direct knowledge of the matter.

Mixue, which has about 36,000 stores across mainland China, plans to start trading on the Hong Kong Stock Exchange in early March, one of the sources added.

REUTERS