Davis Polk & Wardwell and Global Law Office are advising Chinese bubble-tea maker Nayuki Holdings on its planned IPO in Hong Kong, with Kirkland & Ellis and Jingtian & Gongcheng advising the joint sponsors.

Established in 2015, the Shenzhen-headquartered Nayuki is seeking to raise $657 million through the IPO, according to Caixin. Following this, it will become the first listed tea company in China.

Walkers is the issuer’s offshore lawyer. The joint sponsors are JP Morgan, CMB International and Huatai International.


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