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Shares in Mixue, a Chinese ice cream and bubble tea chain, surged over 40% on Monday, the first day of trading after an IPO that raised 3.45 billion Hong Kong dollars ($444 million).

The retail portion of the Hong Kong initial public offering (IPO) for China’s largest fresh-drinks chain, Mixue Group, attracted more than HK$1.6 trillion (US$205.9 billion) in subscriptions ...

A recent thirst among investors for Chinese makers of fresh drinks – after a slew of share offerings including the blockbuster Hong Kong listing of Mixue Group – could mean that too much money ...