On August 4, Chinese domestic media reported that HeyTea may go public in Hong Kong next year, with a target valuation of HK $150 billion ($19.29 billion). However, HeyTea responded that they have no listing plan at present.
Chinese milk tea chain HeyTea on Tuesday announced it has secured $500 million in new financing, led by IDG Capital, He Boquan, Longzhu Capital, Sequoia China, BA Capital, Tencent, Hillhouse Group, Coatue and other investors.
According to PEDaily, several independent sources said that Chinese milk tea chain HeyTea is about to complete a new round of funding. At present, the amount of funding for this round has not been disclosed, though the company is currently valued at around $9.27 billion. HeyTea did not comment on the matter.
Premium bubble tea chain Nayuki Holdings passed a hearing for its initial public offering on the Hong Kong Stock Exchange, becoming the first publicly-listed Chinese high-end beverage brand.
Trending milk tea chain Chayan Yuese (茶颜悦色) has fallen under harsh criticism recently in response to its use of sexist jokes in advertising campaigns.
Most prominent fundraising news of last week brought together robot-maker Flexive, raising $100 million for expansion, online art education platform Meishubao, bagging over $210 million, and one of China’s most popular milk tea brands, Nayuki