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On October 18, 2023, people in the Chaga Store in Shanghai, China.
Costfoto | Nurphoto | Gets the image
The Chinese Chasee shares rose 15% during the public market debut on Thursday when the company plans to launch the United States, despite trading tensions between Washington and Beijing.
The NASDAQ rally, using Ticker “Cha” opened at $ 33.75 per share. The shared chag increased to 49% initially, but lost most of the profit during lunch.
The company evaluated its initial public proposal in $ 28 per share on Wednesday, at a high level of expected range from $ 26 to $ 28. Chagee sold 14.7 million shares, raising $ 411 million and estimates $ 5 billion.
Since its founding in 2017, the company has grown to more than 6400 tea houses in China, Malaysia, Singapore and Thailand. Last year, Formed chagee According to regulatory statements, a net profit of $ 344.5 million from $ 1.7 billion.
The company is preparing to open its first place in the US this spring at the Westfield Century City Mall in Los Endeles.
Founder and CEO Gundji Zhang has created a network after inspiration from the success of international coffee companies. China is there Starbucks’ The second largest market.
The initial public proposal chaga stems from a few weeks Market shocks After the president Donald Trump imposed new tariffs and Lit a trade war with China. Other IPO hopes including Klarna and StubHubThey detained their plans for the public after the markets plunged.
In recent years, it has also become less popular for Chinese companies. From January 2023 to January 2024, the number of Chinese companies listed on the three largest exchanges in the United States decreased by 5%, according to the US Economic and U.S. review.
