Skadden, Arps, Slate, Meagher & Flom, Shihui Partners and offshore law firm Ogier are acting for Guming, China’s second-largest bubble-tea maker, on its IPO on Hong Kong Stock Exchange that aims to raise between $300 million and $500 million.
According to Reuters, bubble tea is one of the few bright sectors amid the relatively low growth rate in the Chinese economy, with low-price operators doing particularly well. Mixue Bingcheng, China’s largest bubble tea maker, has also applied for a listing on the HKSE.
The Skadden team is led by partner Haiping Li.
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