Overview

• Chagee priced its IPO at $28 per ADS, raising approximately $411.2 million by selling 14.68 million shares.
• Shares opened at $33.75 on the Nasdaq under the ticker 'CHA,' marking a 40% increase from the IPO price.
• The company, founded in 2017, operates over 6,400 teahouses across China and Southeast Asia.
• Chagee reported $344.5 million in net income on $1.7 billion in revenue last year, showcasing strong financial performance.
• As part of its global expansion, Chagee is preparing to launch its first U.S. store at Westfield Century City Mall in Los Angeles this spring.