Chagee Holdings (CHA) said underwriters of its initial public offering exercised an option to buy an additional 2.2 million American depositary shares at $28 apiece for gross proceeds of $61.7 million.
Each ADS represents one Class A ordinary share. The IPO and the sale of the overallotment option closed Wednesday, the company said Thursday in a statement.
Chagee debuted on Nasdaq last week after selling 14.7 million ADS at $28 apiece to raise $411.2 million.
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