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Bubble Tea Firm Mixue Surges After IPO, Making Founders Richer Than Starbucks Ex-CEO Schultz
Posted
March 3, 2025
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2:59Now PlayingMixue Group, China’s largest bubble-tea chain, surged in its Hong Kong trading debut after individual investors flocked to the company’s blockbuster initial public offering. Founder Zhang Hongchao and his younger brother Zhang Hongfu have seen their combined fortune rise to $8.1 billion — more than what ex-Starbucks CEO Howard D. Schultz is worth. Bloomberg's Filipe Pacheco reports on how the firm grew and what it says about Hong Kong's IPO market.
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