US EditionDespite Trade War, 30-Year-Old Lists His Chinese Tea Chain In The U.S.
- Chagee, a Chinese tea chain, launched its IPO on Nasdaq and shares gained 15% on Thursday, October 18, 2023.
- Despite trade tensions between the U.S. And China, Chagee pursued its U.S. IPO to raise capital.
- The IPO involved selling 14.7 million American depositary shares and pricing them at $28 each, the high end of its range.
- The IPO raised $411 million and Chagee debuted its shares at $33.75, with the company valued around $5 billion.
- Chagee's successful IPO, despite market uncertainty, signals investor interest in Chinese firms listing on U.S. Exchanges.
19 Articles
19 Articles
Chagee founder becomes billionaire at 30 following US listing
KUALA LUMPUR: A 30-year-old Chinese entrepreneur has become an unexpected billionaire following the US stock market debut of his rapidly expanding tea chain, even as escalating tensions between Washington and Beijing fuel economic decoupling and market uncertainty. © New Straits Times Press (M) Bhd
Chinese milk tea chain Chagee hits $6.2 billion valuation on Nasdaq debut · TechNode
According to Reuters, Chinese tea chain Chagee surged 21% on its Nasdaq debut on Thursday, closing at $33.75 per share and pushing its valuation to $6.2 billion. The company raised $411 million by selling 14.7 million American depositary shares at $28 each, marking it the biggest US IPO for a Chinese consumer brand since RLX Technology’s $1.4 billion listing in 2021. Founded in 2017 by Junjie Zhang, Chagee has grown to nearly 6,700 stores worldw…
Chinese tea chain Chagee valued at $6.2 billion in strong Nasdaq debut
(Reuters) -Chinese tea chain Chagee secured a valuation of $6.2 billion after its shares gained 21% in the Nasdaq debut on Thursday. The company’s American depositary shares opened at $33.75 apiece, compared with the initial public offering price of $28. Chagee sold 14.7 million ADS at the top of its marketed range of $26 to $28 per share to raise $411 million, in the biggest listing for a Chinese consumer company since vaping firm RLX Technolog…
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