Tea shop chain Sichuan Baicha Baidao set to drop 10.1% in Hong Kong debut

SYDNEY, April 23 (Reuters) – Chinese tea shop chain Sichuan Baicha Baidao Industrial shares will open 10.1% down in its Hong Kong trading debut on Tuesday following a $330 million initial public offering (IPO).

The stock was sold at HK$17.50 ($2.23) each in the IPO which is the largest in Hong Kong so far in 2024. ($1 = 7.8357 Hong Kong dollars) (Reporting by Scott Murdoch in Sydney and Donny Kwok in Hong Kong; Editing by Christian Schmollinger)

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