Shares of Mixue were highly sought after, with the Hong Kong offering over 5,200 times oversubscribed. The international offering was more than 35 times oversubscribed. Due to overwhelming demand ...

Mixue - known for its cheap drinks and red-cloaked Snow King mascot - raised $444 million in an initial public offering by selling 17 million shares in the deal at a fixed price of HK$202.5 each.