Plans are understood to be preliminary.
Chinese teahouse chain Heytea has tapped UBS Group AG for a potential Hong Kong initial public offering as soon as next year, Bloomberg reported.
Citing sources familiar with the matter, the company could raise at least US$500 million in an IPO. Plans are understood to be preliminary and other banks that have had discussions with the brand may be added to the lineup.
Other details of the potential IPO such as size and timing could still change.
Read the full report here.
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