Chagee Holdings Limited, the popular Chinese bubble tea brand, has officially received approval from the China Securities Regulatory Commission for an overseas initial public offering (IPO). Known for its delicious milk tea, Chagee is now preparing to list on the US stock market.
The company plans to issue approximately 64.7 million common shares and seeks a listing on either Nasdaq or the New York Stock Exchange within the next 12 months.
Founded in 2017 in Kunming, Yunnan, Chagee has seen rapid growth, expanding from 1,000 stores in 2022 to 5,699 locations worldwide, with more than 70% of those openings occurring within the past two years.
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