SHANGHAI: Shares of Chagee Holdings Ltd. jumped 16 per cent in their debut session after the Chinese tea chain raised US$411 million in its US initial public offering, defying a market besieged by trade-war volatility.
The Shanghai-based company’s American depositary shares pared initial gains to close at US$32.44 each on Thursday (April 17), versus the IPO price of US$28 apiece. Chagee priced 14.7 million ADS at the top end of their marketed range.
