Chinese tea firm Chagee set for Nasdaq debut after $411 million IPO

ReutersApr 17, 2025 2:31 PM

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Chinese tea firm Chagee CHA.O set for Nasdaq debut on Thursday

Shanghai-based CHA sold ~14.7 million American depositary shares at the top end of its marketed range of $26 to $28 apiece to raise $411.2 million

Listing marks first notable U.S. IPO since President Trump unveiled sweeping tariffs earlier this month

At the IPO price, Chagee fetched a valuation of $5.1 billion

Citigroup, Morgan Stanley, Deutsche Bank and CICC were the lead underwriters for the offering

Founded in 2017, Chagee is a Chinese premium tea drinks brand

Cornerstone investors subscribed for Chagee's shares worth up to $205 million

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