Chinese bubble tea drinks company Guming Holdings is aiming to raise up to US$202M in a Hong Kong initial public offering.
The company is selling 158.6 million shares in a price range of HK$8.68 to HK$9.94 each, the filings showed.
In that range, Guming will raise $177M to $202M and the final price will be decided by Friday, according to the filings. The stock will begin trading on the Hong Kong Stock Exchange on 12 February.
Five cornerstone investors led by Tencent subsidiary Huang River have subscribed to the IPO for up to $71M worth of Guming stock collectively, the filings showed.
Guming has 9,000 stores across mainland China and had previously aimed to raise up to $500M via a Hong Kong listing, Reuters reported in September.
