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Chagee Holdings' Nasdaq Debut Sees Shares Surge Over 40%, Valuing Company at $5 Billion

The Chinese premium tea chain raised $411 million in its U.S. IPO and is preparing to open its first American store in Los Angeles.

Market data is displayed on a screen inside the Nasdaq stock market site in New York City, U.S., April 7, 2025. REUTERS/Kylie Cooper/File Photo
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Overview

  • Chagee Holdings Limited priced its initial public offering at $28 per American Depositary Share, raising approximately $411 million.
  • The company's shares began trading on the Nasdaq under the ticker symbol 'CHA' on April 17, 2025, opening at $33.75, a 40% increase from the IPO price.
  • The IPO values Chagee at nearly $5 billion, marking a significant milestone for the company founded in 2017.
  • Founder and CEO Junjie Zhang's net worth rose to $2.6 billion following the IPO, making him a billionaire at the age of 30.
  • Chagee is preparing to expand its global footprint with its first U.S. teahouse set to open later this spring in Los Angeles.