People shop at the Chagee store in Shanghai in China, October 18, 2023.
Costfoto Nurphoto | Getty images
The Chinese Chagee Chinese chain shares increased by 30% during the debut on the public market on Thursday, because the company plans to launch American despite commercial tensions between Washington and Beijing.
Actions that trade on NASDAQ with the help of “Cha” opened for $ 33.75 per share.
On Wednesday, the company valued its first public offer in the amount of USD 28 per share, at a high level of the expected range from 26 to 28 USD. Chagee sold 14.7 million shares, collecting $ 411 million and valued the company at around $ 5 billion.
Since its establishment in 2017, the company has increased to over 6,400 tea room in China, Malaysia, Singapore and Thailand. Last year, He generated Chagee According to regulatory applications, a net income of USD 344.5 million from revenues of USD 1.7 billion.
The company is preparing to open the first American location later this spring in Westfield Century City Mall in Los Angeles.
The founder and general director of Junjie Zhang created a network after he was inspired by the success of international coffee companies. China is Starbucks' The second largest market.
IPO Chagee occurs after a few weeks Market confusion after the president Donald Trump They applied new tariffs and He lit a trade war with China. Other IPO HopeFuls, including clarna and stubhubThey delayed their plans to make public after a decline in markets.
In recent years, it has become less popular for Chinese companies to exchange on the US stock exchanges. According to the American Economic and Security Committee, the Economic Review and Security Commission for the Economic and Security Commission for Securge Economic and Security Commission US-Chin-China Economic and Security Security Commission, from January 2023 to January 2024, the number of Chinese companies recorded on the three largest lists in the USA fell by 5%.
These are the latest news. Check updates.