Chinese Tea Brand Chagee Plans to Sell Shares in U.S., Hopes to Grow Bigger – Reuters Reports
Chinese tea brand Chagee has officially asked to sell shares in the United States, according to Reuters. This process, called an initial public offering (IPO), could help the company expand its business and attract more investors.
Reuters reports that Chagee wants to list its shares on the Nasdaq Global Select Market under the stock symbol “CHA.”
Founded in 2017, Chagee is known as a premium tea brand, meaning it offers high-quality tea drinks. Reuters states that by the end of 2024, the company had 6,440 teahouses, with most of them—6,284—located in China. This shows that Chagee has grown fast in the tea market.
According to Reuters, big financial companies such as Citigroup, Morgan Stanley, CICC, and Deutsche Bank will help Chagee with this stock sale.
If Chagee succeeds in the U.S. stock market, it could become an even bigger global tea brand, reaching more customers beyond China.
Reuters highlights how many Chinese companies are now looking to raise money in the U.S. stock market to grow their businesses worldwide.
If Chagee does well, it may encourage more Chinese food and drink brands to follow the same path.
Credit: Reuters