Chinese milk tea chain Gu Ming kicked off retail book building for its Hong Kong listing today, with a minimum investment of HK$4016.10 per lot for 400 shares.

The company plans to raise up to HK$1.58 billion in an initial public offering, with a share price range between HK$8.68 and HK$9.94.

Gu Ming has introduced a number of cornerstone investors, including Huang River Investment, which is wholly owned by Tencent (0700), and LVC, a private equity firm that invests in NetEase Cloud Music (9899).

STAFF REPORTER