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.
Price: 34.48, Change: +0.99, Percent Change: +2.96
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.