Bama Tea Co., Ltd. (Ticker: 6980 HK) is a China-based non-alcoholic beverages company specializing in premium tea leaves and related products. Bama plans to list on the HKEX on October 28, 2025, offering 9.00 million primary shares at HKD 45.00–50.00, raising HKD 450.0 million ($57.93 million). A 15% greenshoe may be offered. At launch, the deal implies a market capitalization of about $519.76 million. Managers/underwriters include ABCI Capital, Avict Global Asset Management, CLSA, CMBC Securities, China Galaxy International Securities (Hong Kong), Huatai Financial Holdings (Hong Kong), Lead Securities (HK), and SPDB International. Bama processes and markets oolong, black, green, dark and other teas, and also sells teaware and tea snacks. The company reports national leadership by 2024 premium tea sales and by the number of chained specialty tea stores, supported by a network of 3,585 offline stores as of June 30, 2025.