Davis Polk & Wardwell and Zhong Lun Law Firm are advising Chinese ice cream and tea chain Mixue Group on its plans to raise $1 billion via a Hong Kong initial public offering (IPO).

According to the company’s filing with the Hong Kong Stock Exchange, joint sponsors on the deal, Merril Lynch (Asia Pacific) Limited, Goldman Sachs (Asia) and UBS Securities Hong Kong Limited, are being represented by Freshfields Bruckhaus Deringer and Chinese firm Jingtian & Gongcheng.  Freshfields partners Teresa Ko and David Yi is leading the firm on its advice.