BRIEF: Bama Tea to raise up to $58 million in Hong Kong IPO
Tea producer Bama Tea Co. Ltd. (6980.HK) launched its Hong Kong IPO on Monday, aiming to sell 9 million shares for HK$45 to HK$50 apiece to raise up to HK$450 million ($58 million). Shares will be sold in lots of 100, requiring a minimum investment of HK$5,050.43. Subscriptions will close on Thursday, with trading set to begin next Tuesday.
Bama holds the crown as China’s leading premium tea seller, based on its data from 2024. The company also clinched the top spot for sales in the Chinese oolong and black tea markets last year. Its retail footprint included 3,585 stores at the end of June, with 93% of those franchised.
The company reported its revenue fell 4.2% year-on-year to 1.06 billion yuan during the six months through June, while its profit slumped 18% to 120 million yuan. It attributed the declines to falling sales from its brick-and-mortar stores and rising administrative costs. That double pressure squeezed the company’s net profit margin, which fell to 11.3% in the latest six-month period from 13.2% a year earlier.
By Lau Chi Hang
To subscribe to Bamboo Works weekly free newsletter, click here
Related Articles
BRIEF: Autohome’s profit dips slightly in third quarter
BRIEF: WeRide shares sink in Hong Kong trading debut
BRIEF: Pony AI falls in Hong Kong trading debut
RELATED ARTICLES
-
Its Hong Kong listing advancing, will investors drink up Bama Tea shares?
-
From ‘magic tea’ to dietary drugs, can Besunyen reclaim its glory days？
0926.HK
-
BRIEF: Lancang Ancient Tea to raise $7.5 million via share placement at 16% discount
6911.HK
-
DPC Dash lights up Domino’s global leader board with push into small-town China
1405.HK
-
Baiyunshan serves up high dividend in lieu of vanilla results
0874.HK 600332.SHG
-
BRIEF: Bayzed Health to raise up to $115 million in Hong Kong IPO
2609.HK
-
BRIEF: MetaLight bus app IPO finally stops in Hong Kong, to raise $31 million
2605.HK
