Chinese Tea Brand CHAGEE Makes Strong Nasdaq Debut
CHAGEE made its debut on the U.S. Nasdaq, becoming the first Chinese tea beverage brand to list in the U.S. On its first trading day, shares surged 15.86%, giving the company a market valuation of nearly $6 billion.
Founded in 2017 in Kunming, China, CHAGEE now has over 6,400 stores worldwide, with 156 located overseas. The IPO raised $411 million through the sale of 14.7 million ADS at $28 per share. The stock opened at $33.75 and closed at $32.44.
Despite ongoing U.S.-China trade tensions, the strong debut reflects investor confidence in China’s consumer market and economic policies.
It also marks the largest U.S. IPO by a Chinese consumer company since RLX Technology’s $1.4 billion listing in 2021.
