Money-losing premium tea specialist Nayuki Holdings Ltd. has filed to list in Hong Kong, shifting gears from an earlier plan to float shares in New York as it races to beat larger rival HeyTea to market.
The two rivals are the largest players in a booming market for premium teas favored by younger Chinese who often eschew cups of the traditional hot drink for more flavorful offerings that mix in everything from chewy bubbles to fruit, caramel and even cheese foam.
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