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China bubble tea chain Chagee launches IPO in US despite volatility
The Straits Times
|April 12, 2025
Chagee Holdings, a Chinese bubble tea chain, is seeking to raise US$411 million (S$551 million) in an initial public offering (IPO) in the US, despite spiking stock volatility from US President Donald Trump's tariff measures.
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NEW YORK -
The Shanghai-based company is offering 14.68 million American depositary shares for US$26 to US$28 each, according to a filing on April 10 with the US Securities and Exchange Commission. At the top of the price range, Chagee would have a market value of about US$3.3 billion based on the outstanding shares listed in the filing.
Funds affiliated with CDH Investment Management, RWC Asset Management and RWC Asset Advisors (US), Allianz Global Investors Asia Pacific and Orix Asia Asset Management indicated interest in buying as much as US$205 million worth of depositary shares in aggregate at the IPO price, the filing shows.
Dit verhaal komt uit de April 12, 2025-editie van The Straits Times.
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