Mixue Group IPO Valuation Analysis
Mixue Group plans to complete its IPO, selling 17.1 million shares at the IPO price of HK$202.50 per share. The IPO is expected to start trading on 3 March.
Our base case valuation of Mixue Group is implied market cap of HKD 96 billion or target price of HKD 254, which is 26% higher than the initial IPO price.
Our valuation sensitivity analysis suggests a range of HKD 206 to HKD 308 per share for Mixue Group.
