SHANGHAI, May 01, 2025 (GLOBE NEWSWIRE) -- Chagee Holdings Limited (NASDAQ:CHA) (“Chagee” or the “Company”), a leading premium tea drinks brand serving healthy and delicious freshly-made tea drinks, today announced the Underwriters of its previously announced U.S. initial public offering (the “Offering”) have exercised their over-allotment option to purchase an additional 2,202,598 American Depositary Shares (“ADSs”) at an initial public offering price of US$28.00 per ADS, resulting in additional gross proceeds of approximately US$61.7 million, before underwriting discounts and commissions. Each ADS represents one Class A ordinary share of Chagee. The issuance and sale of the over-allotment option closed on April 30, 2025.
Fast Track Group recently filed to withdraw the company's planned U.S. IPO, the latest to do so amid macro uncertainty. Meanwhile, Chagee opened on April 17 at $33.75.
On April 17, Chagee, a Chinese tea beverage brand, officially commenced trading on the Nasdaq stock exchange, becoming the first Chinese tea beverage company to be listed in the United States.
