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HEYTEA company logo
Corporation
LEISURE | Restaurants / Other Restaurants
heytea.com

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Founded Year

2012

Stage

Series D | Alive

Total Raised

$579.23M

Valuation

$0000 

Last Raised

$500M | 5 mos ago

About HEYTEA

HEYTEA, fka ROYALTEA, is a brand of specialty tea houses known for its cheese tea drinks. The company also operates under the brand HEEKCAA.

HEYTEA Headquarter Location

Aerospace Science & Technology Plaza, Tower B, 602C Nanshan District

Shenzhen, Guangdong,

China

Latest HEYTEA News

China bubble tea chain Heytea taps UBS for $671 million Hong Kong IPO

Sep 14, 2021

The Straits Times The chain has expanded across China and also has locations in Singapore.PHOTO: HEYTEA Published They can read the article in full after signing up for a free account. Share link: All done! This article is now fully available for you Read now Get unlimited access to all stories at $0.99/month for the first 3 months. Get unlimited access to all stories at $0.99/month for the first 3 months. Let's go! Spin the wheel now HONG KONG (BLOOMBERG) - Heytea, the Chinese bubble tea maker, has tapped UBS Group for its potential Hong Kong initial public offering (IPO) as soon as next year, according to people familiar with the matter. The company, which is famous for its cheese-foam teas, could raise at least US$500 million (S$671 million) in an IPO, the people said, asking not to be identified as the information isn't public. Plans are still preliminary and other banks that have had discussions with Heytea could be added to the lineup, the people said. Details of the potential IPO such as size and timing could still change, the people said. A Heytea representative said they don't have any IPO plans at this moment, and declined to comment on whether they are considering a listing. A representative for UBS declined to comment. Several of China's teahouses are eyeing IPOs in Hong Kong next year after bubble tea chain Nayuki Holdings raised US$654 million in a June share sale. The candidates include Mixue Bingcheng, which makes ice cream and tea, fruit tea chain ChaBaiDao, milk tea chain Gu Ming and brown sugar milk tea chain Lelecha, Bloomberg News has reported. Shenzhen-based Heytea, formally called Shenzhen Meixixi Catering Management Co, started in 2012 in Guangdong province, according to its website. Its original recipe is a combination of salt, cheese and tea, but it also makes fruit teas. The chain, which operates all its own stores and does not use a franchise model, has expanded across China and also has locations in Singapore. Heytea has attracted backers including IDG Capital, Sequoia Capital China and Hillhouse. The company was valued at more than 60 billion yuan (S$12.48 billion) after its latest funding round, Bloomberg News reported in July. More on this topic

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