Chagee (CHA) shares soared in their trading debut on Nasdaq Thursday after the company priced its initial public offering of about 14.7 million American Depositary Shares at $28 apiece.
The stock was up about 35% in recent trading after opening at $33.75.
The Chinese tea chain company is set to close the offering Monday, raising about $411.2 million.
Chagee granted its underwriters, including Citigroup, Morgan Stanley Asia, and Deutsche Bank, a 30-day option to buy up to about 2.2 million additional shares.
Price: 37.90, Change: +9.90, Percent Change: +35.36
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.