The world’s largest freshly made beverage company, Meixue Bingcheng, will now list Sequoia and Hillhouse as its cornerstone investors in its IPO

On February 21st, Meixue Ice City disclosed the listing documents for its global offering, initiating the IPO process and planning to list on the main board of the Hong Kong Stock Exchange on March 3rd. Meixue Ice City plans to issue 17.0599 million shares globally, including approximately 15.3539 million shares for international issuance and approximately 1.706 million shares for public issuance in Hong Kong. After deducting underwriting fees and commissions paid for the global offering, as well as other estimated offering expenses, Meixue Ice City is estimated to receive a net proceeds of approximately HKD 3.291 billion from the global offering at a price of HKD 202.50 per share. Meixue Ice City has introduced 5 cornerstone investors in this IPO, including UK asset management giant M&G Investments, HongShan Growth under Sequoia China, Persistence Growth Limited under Boyu Capital, and HHLR Fund under Hillhouse Group, L.P.、 Long-Z Fund I, a subsidiary of Meituan Dragon Ball, LP and others subscribed for a total of 200 million US dollars (approximately 1.558 billion Hong Kong dollars).

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