China’s fresh fruit drink giant Mixue Group’s retail tranche of its Hong Kong initial public offering has been oversubscribed by more than 2,432 times in the retail book.

Retail investors applied to borrow approximately HK$839.3 billion through margin financing, according to data from brokerages.

Futu Securities lent the most, amounting to HK$578.6 billion, followed by Phillip Securities with HK$133.6 billion.

Tiger Brokers and Bright Smart Securities lent HK$35.3 billion and HK$21 billion, respectively.