China fresh-tea brand Chagee follows Mixue, Guming in IPO rush with New York plan
Chinese tea-drink maker Chagee has received approval from Chinese regulators for a US IPO, following competitor Mixue's successful Hong Kong debut. Chagee plans to issue up to 64.7 million shares, listing on either the Nasdaq or NYSE, though the listing date is yet to be determined. This move signifies the accelerating trend of Chinese consumer companies seeking IPOs after pledges from regulators to support fundraising.
Chagee's IPO progress comes on the heels of Mixue's impressive Hong Kong IPO, which raised $444 million and saw shares jump significantly on the first day, driven by overwhelming retail investor interest. Similarly, Guming raised $232 million in a Hong Kong IPO in February, further highlighting the growing momentum for Chinese tea and beverage companies in the public market.
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Chinese tea-drink maker Chagee has received approval from Chinese regulators for a US IPO, following competitor Mixue's successful Hong Kong debut. Chagee plans to issue up to 64.7 million shares, listing on either the Nasdaq or NYSE, though the listing date is yet to be determined. This move signifies the accelerating trend of Chinese consumer companies seeking IPOs after pledges from regulators to support fundraising.
Chagee's IPO progress comes on the heels of Mixue's impressive Hong Kong IPO, which raised $444 million and saw shares jump significantly on the first day, driven by overwhelming retail investor interest. Similarly, Guming raised $232 million in a Hong Kong IPO in February, further highlighting the growing momentum for Chinese tea and beverage companies in the public market.
via SCMP Full Text Feed
