Think McDonald’s and Starbucks are the world’s biggest food and beverage chains in terms of locations? Think again. Mixue Ice Cream and Tea, China's largest bubble tea and drinks chain famous for its snow king mascot and low prices,

Shares of Mixue Group, China’s largest bubble tea chain controlled by billionaire brothers Zhang Hongchao and Hongfu, jumped 43% in its Hong Kong IPO debut.

Mixue Group, China’s largest bubble-tea chain, surged in its Hong Kong trading debut after individual investors flocked to the company’s blockbuster HK$3.45 billion ($444 million) initial public offering.