People shopping at a chase store in Shanghai, China on October 18, 2023.
Costfoto | Nurphoto | Getty images
The Chinese Chen Chain Chase shares climbed 15% during the introduction of their public market on Thursday, as the company is planning to launch American launch despite trade tension between Washington and Beijing.
Stock, which is trading on the Nasdaq using the tick “cha”, opened at $ 33.75 per share. The Chagee shares initially increased by 49% but lost those benefits during the afternoon trading.
The company on Wednesday priced its initial public offer at a high end of the expected range of $ 28 to $ 28 to $ 28 to $ 28. Chagee sold 14.7 million shares, raised $ 411 million and evaluated the company about $ 5 billion.
Since its establishment in 2017, the company has been over 6,400 tehouse in the entire China, Malaysia, Singapore and Thailand. Last year, Charge generated According to regulatory filing, $ 1.7 billion revenue from $ 344.5 million.
The company is preparing to open its first American position in this spring at Westfield Century City Mall at Los Angeles.
Founder and CEO Junji Zhang formed a series after being inspired by the success of international coffee companies. China is Starbucks’ The second largest market.
The initial public offering of Chagee is after several weeks Market upheaval After the president Donald Trump Put new tariffs and A trade war ignited With China. Other IPO hope, Which also includes Clarna and StubAfter the fall of the markets, its plans were delayed to go publicly.
In recent years, it has also become less popular for Chinese companies to list on American exchanges. According to the US-China Economic and Safety Review Commission, from January 2023 to January 2024, the number of Chinese companies listed in the three largest American exchanges fell 5%.
