PAG led a c.$100m series C funding round in Shenzhen Pindao Restaurant Management.

PAG led a c.$100m series C funding round in Shenzhen Pindao Restaurant Management, which operates as a a brand of freshly roasted tea drinks. Yunfeng Capital also participated in a round. The bubble tea chain owner is considering an initial public offering in Hong Kong, after the coronavirus outbreak clouded its earlier plans for a US listing. Nayuki in February filed confidentially for an offering in the US.