Mixue Ice Cream and Tea may be unfamiliar to many of us but the Chinese firm has more outlets than McDonald's and Starbucks. On Monday, the bubble tea chain's shares jumped by more than 40% in their Hong Kong Stock Exchange debut.

Chinese bubble tea giant Mixue’s shares surged 40 per cent on their debut on Monday as Hong Kong’s biggest listing of the year to date highlighted investor focus on mainland China’s price-conscious consumers.

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.