Mixue Group, China’s largest drinks company, plans to raise HK$3.45 billion (approximately US$443.66 million) through an initial public offering (IPO) in Hong Kong, as stated in a regulatory filing on Feb. 21.

The company will offer 17.1 million shares, priced at HK$202.5 each.

Bookbuilding for the IPO began on Feb. 21.

Trading is set to start on the Hong Kong Stock Exchange on March 3.

Founded in 1997 in Zhengzhou by Zhang Hongchao, Mixue operates 45,000 stores across China and in 11 other countries through its franchise network.