Chagee (CHA) shares soared in their trading debut on Nasdaq Thursday after the company priced its initial public offering of about 14.7 million American Depositary Shares at $28 apiece.
The stock was up about 35% in recent trading after opening at $33.75.
The Chinese tea chain company is set to close the offering Monday, raising about $411.2 million.
Chagee granted its underwriters, including Citigroup, Morgan Stanley Asia, and Deutsche Bank, a 30-day option to buy up to about 2.2 million additional shares.
Price: 37.90, Change: +9.90, Percent Change: +35.36
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