The largest bubble tea chain than Starbucks sees that the actions jump into the debut

Mixue ice cream and tea can be unknown to many of us, but the Chinese firm has more points of sale than McDonald’s and Starbucks.

On Monday, the bubble tea chain actions increased by 40% when they began to quote on the Hong Kong Stock Exchange.

The company raised $ 444 million (£ 352 million) in the largest initial public offer of the Financial Hub of the Year.

Mixue’s popularity occurs since many people in China are dealing with the country’s economic challenges, including a real estate crisis and weak confidence of consumers and businesses. Sale ice cream and drinks for an average of six Chinese yuan ($ 0.82; £ 0.65).

The company was founded in 1997 by Zhang Hongchao, a student at Henan’s University of Finance and Economics, as part -time work to help his family’s finances.

His full name mìxuě bīngchéng means “honey snow ice”, with his stores adorned with his snow king and playing The firm’s official theme melody In a loop.

According to Mixue, it has more than 45,000 stores in China and 11 other countries, including Singapore and Thailand. The firm has also said that it plans to continue expanding.

That is compared to “more than 43,000 locations” for the 40,576 points of sale of McDonald’s and Starbucks.

While it is often seen as the largest bubble tea in China, icy drinks and the ice cream chain, it works more as a supplier of raw materials than a traditional brand.

Unlike Starbucks, which operates more than half of its stores directly, almost all Mixue points of sale are led by franchisees.

The solid debut of the Mixue market contrasts with its smallest rival guming, which saw its participation slide on its first day of operation in February.

Last year, the actions in the owner of the Bubble Chabble Chabble chain also fell into their market debut.