Chinese Tea Chain's US IPO Bolsters Outlook for Handful of Listing Candidates
Chinese tea chain Chagee Holdings Ltd. managed what in April 2025 seems like an impossible feat: not only did it pull off a successful US IPO in the middle of a tariff war, its shares are trading above its offering price. Its playbook offers a few rays of hope for firms considering going ahead with deals.
The company raised $411 million in its US initial public offering, with shares closing 16% higher in its debut session as a public company. They remain 10% above the IPO price even as the S&P 500 Index has shed 3.4% since Chagee's debut. Its performance despite the volatility can be chalked up to a combination of sector and strategy.
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